PJT Partners (NYSE:PJT) Stock Rating Lowered by JMP Securities

PJT Partners (NYSE:PJT) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat.com reports.

Other analysts have also issued reports about the stock. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and upped their price target for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods increased their target price on PJT Partners from $151.00 to $159.00 and gave the company a “market perform” rating in a report on Friday, December 20th.

PJT Partners Trading Down 2.2 %

Shares of NYSE PJT opened at $154.90 on Monday. The stock’s 50-day moving average is $159.02 and its 200 day moving average is $138.07. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 39.31 and a beta of 0.66. PJT Partners has a 1-year low of $88.51 and a 1-year high of $168.92.

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 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 firm had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. On average, analysts forecast that PJT Partners will post 4.4 EPS for the current fiscal year.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 1,541 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the transaction, the director now directly owns 9,100 shares of the company’s stock, valued at $1,453,725. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,766 shares of company stock worth $762,980. 11.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PJT Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock valued at $1,601,000 after buying an additional 120 shares during the last quarter. BOKF NA boosted its position in PJT Partners by 88.2% in the second quarter. BOKF NA now owns 5,461 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 2,560 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of PJT Partners by 13.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 108,522 shares of the financial services provider’s stock valued at $11,711,000 after purchasing an additional 12,991 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PJT Partners by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock worth $49,446,000 after purchasing an additional 22,117 shares during the period. Finally, Ieq Capital LLC boosted its holdings in shares of PJT Partners by 28.9% in the second quarter. Ieq Capital LLC now owns 25,474 shares of the financial services provider’s stock worth $2,749,000 after buying an additional 5,705 shares during the last quarter. 89.23% of the stock is currently 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.