PJT Partners (NYSE:PJT) Rating Increased to Neutral at UBS Group

PJT Partners (NYSE:PJT - Get Free Report) was upgraded by analysts at UBS Group from a "sell" rating to a "neutral" rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $175.00 target price on the financial services provider's stock, up from their prior target price of $130.00. UBS Group's target price indicates a potential upside of 6.57% from the stock's current price.

Separately, JMP Securities lifted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, PJT Partners presently has a consensus rating of "Hold" and a consensus price target of $134.80.

PJT Partners Price Performance

Shares of NYSE:PJT traded up $2.94 during midday trading on Friday, hitting $164.21. The company had a trading volume of 176,500 shares, compared to its average volume of 233,232. PJT Partners has a 12-month low of $88.51 and a 12-month high of $168.92. The company has a fifty day moving average of $149.67 and a two-hundred day moving average of $128.01. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 40.93 and a beta of 0.65.

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

Insider Buying and Selling

In other news, Director James Costos sold 1,500 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the completion of the transaction, the director now owns 9,360 shares in the company, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now owns 9,100 shares in the company, valued at $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,766 shares of company stock valued at $762,980. Corporate insiders own 11.71% of the company's stock.

Institutional Trading of PJT Partners

A number of large investors have recently added to or reduced their stakes in PJT. Virtu Financial LLC bought a new position in shares of PJT Partners in the 3rd quarter valued at about $631,000. Geode Capital Management LLC raised its position in 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 purchasing an additional 45,327 shares during the period. M&T Bank Corp lifted its stake in shares of PJT Partners by 3.5% in the 3rd quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider's stock valued at $296,000 after purchasing an additional 75 shares during the last quarter. Barclays PLC boosted its holdings in shares of PJT Partners by 158.6% in the 3rd quarter. Barclays PLC now owns 52,045 shares of the financial services provider's stock worth $6,940,000 after purchasing an additional 31,922 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in shares of PJT Partners during the 3rd quarter valued at approximately $295,000. 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.