PJT Partners (NYSE:PJT) Downgraded by JMP Securities to "Market Perform"

PJT Partners (NYSE:PJT - Get Free Report) was downgraded by analysts at JMP Securities from an "outperform" rating to a "market perform" rating in a note issued to investors on Monday, Marketbeat.com reports.

Several other research firms have also weighed in on PJT. 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 research report on Friday, December 6th. Keefe, Bruyette & Woods lifted their target price on PJT Partners from $151.00 to $159.00 and gave the stock a "market perform" rating in a report on Friday, December 20th.

PJT Partners Trading Down 1.6 %

PJT stock traded down $2.51 during trading on Monday, hitting $152.15. The company had a trading volume of 298,702 shares, compared to its average volume of 210,486. PJT Partners has a one year low of $88.51 and a one year high of $168.92. The business has a 50-day moving average of $159.27 and a 200-day moving average of $138.39. The stock has a market cap of $3.61 billion, a PE ratio of 38.62 and a beta of 0.66.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. The company's quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. Research analysts forecast that PJT Partners will post 4.4 EPS for the current year.

Insider Activity at PJT Partners

In related news, Director Kenneth C. Whitney sold 1,725 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the transaction, the director now owns 9,100 shares of the company's stock, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the transaction, the director now owns 9,360 shares of the company's stock, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock valued at $762,980 in the last three months. Corporate insiders own 11.71% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new stake in PJT Partners in the 3rd quarter worth about $453,000. Citigroup Inc. grew its holdings 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 acquiring an additional 15,135 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PJT Partners by 7.9% during 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 acquiring an additional 45,327 shares during the last quarter. Atria Investments Inc lifted its holdings in PJT Partners by 5.9% during the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider's stock worth $342,000 after acquiring an additional 142 shares during the period. Finally, Raymond James & Associates boosted its position in PJT Partners by 5.4% in the third 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 during the last quarter. 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.