PJT Partners (NYSE:PJT) Sets New 52-Week High - Time to Buy?

PJT Partners Inc. (NYSE:PJT - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $150.90 and last traded at $150.90, with a volume of 114 shares. The stock had previously closed at $148.17.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PJT. The Goldman Sachs Group boosted their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. JMP Securities boosted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a report on Wednesday, October 9th. UBS Group raised their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, PJT Partners has a consensus rating of "Hold" and an average target price of $123.80.

PJT Partners Price Performance

The company's 50-day moving average price is $128.53 and its 200-day moving average price is $113.77. The company has a market cap of $3.59 billion, a P/E ratio of 41.27 and a beta of 0.61.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.49. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm had revenue of $360.00 million during the quarter, compared to analysts' expectations of $281.93 million. During the same quarter in the prior year, the company earned $0.99 EPS. The company's revenue was up 4.0% on a year-over-year basis. On average, equities research analysts predict that PJT Partners Inc. will post 4.35 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Wednesday, September 4th. PJT Partners's dividend payout ratio is presently 27.55%.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the transaction, the insider now directly owns 61,433 shares of the company's stock, valued at $7,301,312.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now directly owns 61,433 shares of the company's stock, valued at $7,301,312.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kievdi Don Cornwell sold 11,586 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the transaction, the director now owns 8,339 shares of the company's stock, valued at $1,029,783.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,297 shares of company stock worth $3,092,668. Corporate insiders own 10.67% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund bought a new position in shares of PJT Partners in the first quarter valued at $1,262,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PJT Partners by 36.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider's stock valued at $8,017,000 after acquiring an additional 22,556 shares during the last quarter. Champlain Investment Partners LLC bought a new position in shares of PJT Partners in the 1st quarter valued at about $43,029,000. BNP Paribas Financial Markets increased its stake in shares of PJT Partners by 116.0% during the 1st quarter. BNP Paribas Financial Markets now owns 41,251 shares of the financial services provider's stock worth $3,888,000 after purchasing an additional 22,157 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of PJT Partners during the 1st quarter worth about $647,000. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.