PJT Partners (NYSE:PJT) Sets New 12-Month High – Should You Buy?

Shares of PJT Partners Inc. (NYSE:PJT) reached a new 52-week high on Wednesday . The stock traded as high as $161.21 and last traded at $157.87, with a volume of 2858 shares traded. The stock had previously closed at $141.27.

Wall Street Analysts Forecast Growth

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

PJT Partners Stock Performance

The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 40.91 and a beta of 0.61. The business has a 50 day simple moving average of $133.98 and a 200-day simple moving average of $118.64.

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

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. PJT Partners’s dividend payout ratio (DPR) is currently 25.38%.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the transaction, the director now owns 8,339 shares in the company, valued at $1,029,783.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,601 shares of company stock worth $2,870,848. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV lifted its stake in 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 last quarter. Los Angeles Capital Management LLC purchased a new position in PJT Partners in the third quarter valued at approximately $453,000. Crossmark Global Holdings Inc. purchased a new position in PJT Partners in the third quarter valued at approximately $262,000. Atria Investments Inc lifted its stake in PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 142 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its stake in PJT Partners by 5.2% in the third quarter. Portside Wealth Group LLC now owns 3,684 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.