PJT Partners Inc. (NYSE:PJT) Given Average Recommendation of "Reduce" by Brokerages

Shares of PJT Partners Inc. (NYSE:PJT - Get Free Report) have received a consensus rating of "Reduce" from the six research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $123.80.

PJT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. UBS Group increased their target price on PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th. JMP Securities boosted their price target on PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price objective on PJT Partners from $115.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st.

Insiders Place Their Bets

In related news, insider Ji-Yeun Lee sold 10,000 shares of the company'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 transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares of the company's stock, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of the transaction, the director now owns 7,404 shares in the company, valued at $968,369.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,297 shares of company stock valued at $3,092,668. 10.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of PJT. SouthState Corp acquired a new position in shares of PJT Partners during the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in PJT Partners in the second quarter valued at approximately $30,000. GAMMA Investing LLC raised its holdings in PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock worth $45,000 after purchasing an additional 146 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of PJT Partners during the first quarter worth $39,000. Finally, nVerses Capital LLC acquired a new position in shares of PJT Partners in the 3rd quarter valued at $213,000. 89.23% of the stock is owned by institutional investors.

PJT Partners Stock Performance

Shares of NYSE:PJT traded down $2.34 during trading on Friday, hitting $139.64. 100,496 shares of the stock were exchanged, compared to its average volume of 231,605. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 38.47 and a beta of 0.61. PJT Partners has a 1-year low of $71.47 and a 1-year high of $151.10. The company's fifty day simple moving average is $131.79 and its 200-day simple moving average is $116.05.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate 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 period last year, the business earned $0.99 earnings per share. PJT Partners's quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that PJT Partners will post 4.35 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.72%. PJT Partners's dividend payout ratio is 27.55%.

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.