PJT Partners (NYSE:PJT) Price Target Cut to $152.00 by Analysts at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $159.00 to $152.00 in a report released on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 1.48% from the company’s current price.

Other research analysts have also recently issued research reports about the company. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday.

PJT Partners Trading Down 3.1 %

Shares of PJT stock traded down $4.87 during trading hours on Monday, reaching $149.79. The company’s stock had a trading volume of 90,745 shares, compared to its average volume of 180,117. PJT Partners has a one year low of $88.51 and a one year high of $168.92. The stock has a market capitalization of $3.55 billion, a P/E ratio of 38.02 and a beta of 0.66. The firm’s fifty day simple moving average is $159.02 and its 200 day simple moving average is $138.07.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same quarter in the prior year, the company earned $0.78 EPS. The business’s revenue was up 17.2% compared to the same quarter last year. As a group, equities research analysts forecast that PJT Partners will post 4.4 earnings per share for the current fiscal year.

Insider Activity at PJT Partners

In other news, Director James Costos sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock worth $762,980 over the last quarter. Company insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PJT. Quarry LP grew its holdings in shares of PJT Partners by 186.3% in the third quarter. Quarry LP now owns 209 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 last quarter. KBC Group NV raised its position in PJT Partners by 113.0% during the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 426 shares during the period. nVerses Capital LLC bought a new position in shares of PJT Partners during the 3rd quarter valued at approximately $213,000. Finally, D.A. Davidson & CO. purchased a new stake in PJT Partners during the 3rd quarter valued at $234,000. 89.23% of the stock is currently owned by institutional investors.

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.