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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PJT shares. JMP Securities boosted their target price 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 reaffirmed a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, UBS Group upped their price target on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.80.

PJT Partners Stock Up 15.8 %

The firm’s 50-day moving average is $133.98 and its 200-day moving average is $118.64. The company has a market capitalization of $3.89 billion, a PE ratio of 40.91 and a beta of 0.61.

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

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 0.61%. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

Insider Buying and Selling

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $124.86, for a total transaction of $251,592.90. Following the completion of the sale, the director now directly owns 500 shares in the company, valued at $62,430. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,601 shares of company stock worth $2,870,848. Corporate insiders own 11.71% of the company’s stock.

Institutional Trading of PJT Partners

A number of institutional investors have recently modified their holdings of the company. KBC Group NV boosted its holdings in shares of PJT Partners by 113.0% during the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 426 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of PJT Partners during the third quarter worth about $453,000. Crossmark Global Holdings Inc. purchased a new stake in shares of PJT Partners during the third quarter worth about $262,000. Atria Investments Inc boosted its holdings in shares of PJT Partners by 5.9% during the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 142 shares during the period. Finally, Portside Wealth Group LLC boosted its holdings in shares of PJT Partners by 5.2% during the third quarter. Portside Wealth Group LLC now owns 3,684 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 181 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.