PJT Partners (NYSE:PJT) Shares Down 4.8%

Shares of PJT Partners Inc. (NYSE:PJT) were down 4.8% during trading on Thursday . The company traded as low as $65.27 and last traded at $65.98. Approximately 1,881 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 175,237 shares. The stock had previously closed at $69.28.

A number of analysts have commented on PJT shares. Keefe, Bruyette & Woods started coverage on PJT Partners in a research report on Thursday, March 25th. They issued an “outperform” rating and a $85.00 price objective for the company. Seaport Global Securities initiated coverage on PJT Partners in a research report on Wednesday, December 16th. They set a “buy” rating and a $91.00 target price for the company. Wolfe Research downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Zacks Investment Research downgraded PJT Partners from a “buy” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. PJT Partners presently has an average rating of “Buy” and an average price target of $77.83.

The stock has a fifty day moving average of $69.80 and a two-hundred day moving average of $70.66. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.70 and a beta of 0.90.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, February 2nd. The financial services provider reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.70. PJT Partners had a return on equity of 27.00% and a net margin of 9.01%. The firm had revenue of $322.00 million during the quarter, compared to analysts’ expectations of $261.69 million. On average, analysts anticipate that PJT Partners Inc. will post 4.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 17th. Investors of record on Wednesday, March 3rd were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. PJT Partners’s dividend payout ratio is 8.30%.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in PJT Partners by 5.0% during the 4th quarter. BlackRock Inc. now owns 1,685,076 shares of the financial services provider’s stock valued at $126,804,000 after purchasing an additional 80,210 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of PJT Partners by 0.7% in the 4th quarter. Clearbridge Investments LLC now owns 897,968 shares of the financial services provider’s stock valued at $67,572,000 after buying an additional 5,922 shares during the period. Tudor Investment Corp Et Al increased its stake in shares of PJT Partners by 10.8% in the 4th quarter. Tudor Investment Corp Et Al now owns 183,362 shares of the financial services provider’s stock valued at $13,798,000 after buying an additional 17,826 shares during the period. Grandeur Peak Global Advisors LLC increased its stake in shares of PJT Partners by 23.1% in the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 168,380 shares of the financial services provider’s stock valued at $10,206,000 after buying an additional 31,575 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PJT Partners by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 156,145 shares of the financial services provider’s stock valued at $11,750,000 after buying an additional 410 shares during the period. 68.05% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Company Profile (NYSE:PJT)

PJT Partners Inc, an investment bank, provides various strategic and shareholder advisory, restructuring and special situations, and private fund advisory and fundraising services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.

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