PJT Partners (NYSE:PJT) Cut to “Hold” at Citizens Jmp

PJT Partners (NYSE:PJT) was downgraded by equities researchers at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

PJT has been the topic of a number of other reports. JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and increased their target price for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, Keefe, Bruyette & Woods decreased their target price on PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a report on Monday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $152.25.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $152.15 on Monday. The business’s fifty day moving average price is $159.27 and its two-hundred day moving average price is $138.39. PJT Partners has a fifty-two week low of $88.51 and a fifty-two week high of $168.92. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 38.62 and a beta of 0.66.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating 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 firm had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. During the same period in the prior year, the business posted $0.78 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. Research analysts expect that PJT Partners will post 4.4 EPS for the current fiscal year.

Insider Transactions at PJT Partners

In related news, General Counsel David Adam Travin sold 1,541 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Costos sold 1,500 shares of the firm’s 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 completion of the transaction, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,766 shares of company stock worth $762,980. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in PJT Partners by 5.7% in the third quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock valued at $133,595,000 after buying an additional 54,071 shares during the period. Geode Capital Management LLC lifted its stake in 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 buying an additional 45,327 shares during the period. Champlain Investment Partners LLC lifted its stake in PJT Partners by 7.4% in the third quarter. Champlain Investment Partners LLC now owns 594,359 shares of the financial services provider’s stock valued at $79,252,000 after buying an additional 41,119 shares during the period. Dimensional Fund Advisors LP lifted its stake in PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock valued at $49,446,000 after buying an additional 22,117 shares during the period. Finally, FMR LLC lifted its stake in PJT Partners by 10.9% in the third quarter. FMR LLC now owns 417,271 shares of the financial services provider’s stock valued at $55,639,000 after buying an additional 41,007 shares during the period. Institutional investors own 89.23% of the company’s stock.

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.