Riverwater Partners LLC Invests $1.17 Million in PJT Partners Inc. (NYSE:PJT)

Riverwater Partners LLC bought a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,800 shares of the financial services provider's stock, valued at approximately $1,169,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PJT. International Assets Investment Management LLC increased its holdings in shares of PJT Partners by 13,233.8% during the 3rd quarter. International Assets Investment Management LLC now owns 10,667 shares of the financial services provider's stock valued at $1,422,000 after purchasing an additional 10,587 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of PJT Partners in the third quarter valued at about $293,000. Everence Capital Management Inc. raised its holdings in PJT Partners by 9.6% in the 3rd quarter. Everence Capital Management Inc. now owns 2,390 shares of the financial services provider's stock valued at $319,000 after acquiring an additional 210 shares during the last quarter. Raymond James & Associates lifted its stake in PJT Partners by 5.4% in the 3rd quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider's stock worth $15,370,000 after purchasing an additional 5,929 shares in the last quarter. Finally, Ellsworth Advisors LLC increased its holdings in shares of PJT Partners by 3.9% in the third quarter. Ellsworth Advisors LLC now owns 5,442 shares of the financial services provider's stock valued at $726,000 after purchasing an additional 205 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

PJT Partners Trading Up 0.1 %

Shares of PJT stock traded up $0.15 during trading hours on Thursday, hitting $141.80. The company's stock had a trading volume of 182,917 shares, compared to its average volume of 173,725. The business has a fifty day moving average of $131.48 and a 200-day moving average of $115.76. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 37.02 and a beta of 0.61. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $151.10.

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

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.71%. PJT Partners's dividend payout ratio (DPR) is 26.11%.

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 stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the sale, the director now directly owns 7,404 shares in the company, valued at $968,369.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business'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 completion of the transaction, the insider now owns 61,433 shares in the company, valued at approximately $7,301,312.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Emily K. Rafferty sold 1,696 shares of PJT Partners stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the sale, the director now owns 7,404 shares in the company, valued at approximately $968,369.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,297 shares of company stock valued at $3,092,668. Company insiders own 11.71% of the company's stock.

PJT Partners 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.