PJT Partners (NYSE:PJT) Shares Down 5.8% - What's Next?

PJT Partners Inc. (NYSE:PJT - Get Free Report) was down 5.8% on Tuesday . The stock traded as low as $132.30 and last traded at $132.90. Approximately 10,056 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 230,713 shares. The stock had previously closed at $141.08.

Analyst Upgrades and Downgrades

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

PJT Partners Stock Down 1.7 %

The company has a market capitalization of $3.33 billion, a PE ratio of 38.20 and a beta of 0.61. The stock's 50 day moving average is $132.11 and its two-hundred day moving average is $116.64.

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

Insider Buying and Selling

In other news, Director Emily K. Rafferty sold 1,696 shares of the firm's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total value of $221,819.84. Following the sale, the director now directly owns 7,404 shares in the company, valued at approximately $968,369.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kievdi Don Cornwell sold 11,586 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the transaction, the director now directly owns 8,339 shares in the company, valued at $1,029,783.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction dated 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 sale, the director now owns 7,404 shares of the company's stock, valued at approximately $968,369.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,297 shares of company stock worth $3,092,668 in the last three months. 10.67% of the stock is owned by insiders.

Institutional Investors Weigh In On PJT Partners

A number of large investors have recently modified their holdings of the business. SouthState Corp acquired a new stake in PJT Partners in the 2nd quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners during the second quarter worth $30,000. Fidelis Capital Partners LLC purchased a new stake in shares of PJT Partners during the first quarter valued at $39,000. GAMMA Investing LLC increased its position in shares of PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 146 shares during the period. Finally, EntryPoint Capital LLC raised its stake in PJT Partners by 27.6% in the 1st quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider's stock worth $157,000 after acquiring an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

About PJT Partners

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.