PJT Partners (NYSE:PJT) Trading Down 8.3% - Time to Sell?

PJT Partners Inc. (NYSE:PJT - Get Free Report) shares fell 8.3% during trading on Tuesday . The stock traded as low as $146.00 and last traded at $144.23. 72,546 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 253,209 shares. The stock had previously closed at $157.28.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PJT shares. UBS Group raised PJT Partners from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Keefe, Bruyette & Woods lifted their price objective on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. JMP Securities cut PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Finally, Citizens Jmp cut PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $158.50.

PJT Partners Stock Up 0.4 %

The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 30.35 and a beta of 0.68. The stock has a fifty day moving average price of $162.58 and a two-hundred day moving average price of $150.71.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.71. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The company had revenue of $477.30 million during the quarter, compared to analysts' expectations of $384.64 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The business's revenue for the quarter was up 45.3% compared to the same quarter last year. As a group, research analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

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PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. PJT Partners's dividend payout ratio (DPR) is 20.41%.

Hedge Funds Weigh In On PJT Partners

Institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of PJT Partners in the third quarter valued at $453,000. JPMorgan Chase & Co. grew its position in shares of PJT Partners by 91.4% in the third quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider's stock valued at $9,636,000 after purchasing an additional 34,514 shares during the period. Geode Capital Management LLC grew its position in shares of PJT Partners by 7.9% in the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider's stock valued at $82,556,000 after purchasing an additional 45,327 shares during the period. Citigroup Inc. grew its position in shares of PJT Partners by 101.1% in the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider's stock valued at $4,014,000 after purchasing an additional 15,135 shares during the period. Finally, Atria Investments Inc grew its position in shares of PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider's stock valued at $342,000 after purchasing an additional 142 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

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.