PJT Partners (NYSE:PJT) Stock Price Down 5.8% – Should You Sell?

Shares of PJT Partners Inc. (NYSE:PJT) traded down 5.8% on Tuesday . The stock traded as low as $132.30 and last traded at $132.90. 10,056 shares were traded during trading, a decline of 96% from the average session volume of 230,713 shares. The stock had previously closed at $141.08.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PJT. The Goldman Sachs Group lifted 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. JMP Securities lifted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. Finally, UBS Group raised their target price on shares of 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 assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $123.80.

PJT Partners Trading Down 0.6 %

The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 37.97 and a beta of 0.61. The firm’s 50-day moving average is $132.45 and its 200-day moving average is $116.96.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same quarter last year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Analysts forecast that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.25 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.73%. PJT Partners’s dividend payout ratio is currently 27.55%.

Insider Buying and Selling at PJT Partners

In related news, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at approximately $62,430. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the transaction, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Grace Reksten Skaugen sold 2,015 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $62,430. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,601 shares of company stock worth $2,870,848 over the last three months. 10.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SouthState Corp bought a new position in shares of PJT Partners during the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in PJT Partners in the 2nd quarter worth $30,000. GAMMA Investing LLC lifted its position in shares of PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of PJT Partners in the 1st quarter worth about $39,000. Finally, nVerses Capital LLC bought a new stake in shares of PJT Partners during the 3rd quarter valued at about $213,000. 89.23% of the stock is owned by 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.