PJT Partners (NYSE:PJT) Shares Gap Down to $93.36

Shares of PJT Partners Inc. (NYSE:PJT) gapped down prior to trading on Tuesday . The stock had previously closed at $93.36, but opened at $89.00. PJT Partners shares last traded at $88.63, with a volume of 65,489 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $99.00 price objective (down from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. Wolfe Research reiterated an “underperform” rating and set a $89.00 target price on shares of PJT Partners in a report on Wednesday, January 3rd. Seaport Res Ptn cut PJT Partners from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. JMP Securities boosted their price target on PJT Partners from $105.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 7th. Finally, UBS Group reissued a “sell” rating and issued a $75.00 price objective (down from $100.00) on shares of PJT Partners in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, PJT Partners currently has an average rating of “Hold” and a consensus target price of $93.25.

PJT Partners Price Performance

The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 30.34 and a beta of 0.69. The firm has a 50 day moving average price of $99.06 and a 200-day moving average price of $90.69.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.20. PJT Partners had a return on equity of 17.44% and a net margin of 7.09%. The firm had revenue of $328.60 million for the quarter, compared to analyst estimates of $304.26 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that PJT Partners Inc. will post 3.85 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. PJT Partners’s payout ratio is presently 32.47%.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the completion of the transaction, the insider now directly owns 73,421 shares in the company, valued at approximately $7,678,368.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total value of $466,050.00. Following the transaction, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now owns 73,421 shares in the company, valued at approximately $7,678,368.18. The disclosure for this sale can be found here. Insiders sold a total of 27,926 shares of company stock worth $2,875,672 over the last ninety days. 10.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of PJT Partners by 133.0% in the first quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 246 shares in the last quarter. Fortis Capital Advisors LLC purchased a new stake in shares of PJT Partners during the first quarter worth $29,000. Huntington National Bank lifted its position in shares of PJT Partners by 67.9% during the second quarter. Huntington National Bank now owns 450 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 182 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of PJT Partners by 423.3% during the first quarter. Belpointe Asset Management LLC now owns 471 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 381 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of PJT Partners by 61.4% in the third quarter. Global Retirement Partners LLC now owns 668 shares of the financial services provider’s stock worth $51,000 after buying an additional 254 shares in the last quarter. 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.