PJT Partners (NYSE:PJT) Hits New 52-Week High – What’s Next?

PJT Partners Inc. (NYSE:PJT)’s stock price reached a new 52-week high on Monday . The company traded as high as $165.19 and last traded at $164.71, with a volume of 955 shares trading hands. The stock had previously closed at $162.79.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PJT shares. UBS Group increased their price target on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. Finally, JMP Securities lifted their price objective on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $123.80.

PJT Partners Stock Performance

The stock has a market capitalization of $3.93 billion, a P/E ratio of 42.06 and a beta of 0.61. The company’s 50-day moving average price is $145.54 and its 200 day moving average price is $125.29.

PJT Partners (NYSE:PJT) last posted 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 company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. During the same period in the previous year, the firm earned $0.78 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year. Analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Insider Activity at PJT Partners

In related news, Director Kievdi Don Cornwell sold 11,586 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the transaction, the director now owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. This trade represents a 58.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Costos sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,352 shares of company stock valued at $3,382,235. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Large investors have recently made changes to their positions in the company. SouthState Corp purchased a new stake in shares of PJT Partners in the second quarter worth approximately $26,000. Quarry LP grew its stake in PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of PJT Partners during the second quarter worth approximately $30,000. GAMMA Investing LLC raised its stake in shares of PJT Partners by 76.4% during the third 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 in the last quarter. Finally, KBC Group NV boosted its holdings in shares of PJT Partners by 113.0% in 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. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.