Riverwater Partners LLC Makes New $1.17 Million Investment in PJT Partners Inc. (NYSE:PJT)

Riverwater Partners LLC purchased a new stake in shares of PJT Partners Inc. (NYSE:PJT) during the 3rd quarter, HoldingsChannel reports. The fund purchased 8,800 shares of the financial services provider’s stock, valued at approximately $1,169,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PJT. Louisiana State Employees Retirement System boosted its stake in PJT Partners by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $1,198,000 after buying an additional 100 shares in the last quarter. American Century Companies Inc. boosted its position in shares of PJT Partners by 0.8% during the 2nd quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock valued at $1,601,000 after purchasing an additional 120 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of PJT Partners by 3.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 136 shares during the last quarter. Sei Investments Co. raised its holdings in shares of PJT Partners by 1.4% in the 2nd quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider’s stock worth $1,129,000 after purchasing an additional 141 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of PJT opened at $141.65 on Thursday. The business’s 50-day moving average is $131.13 and its 200-day moving average is $115.58. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 36.98 and a beta of 0.61. PJT Partners Inc. has a fifty-two week low of $71.47 and a fifty-two week high of $151.10.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.49. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. Equities research analysts expect that PJT Partners Inc. will post 4.35 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.71%. PJT Partners’s dividend payout ratio is 26.11%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on 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 transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ji-Yeun Lee sold 10,000 shares of the company’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 sale, the insider now owns 61,433 shares in the company, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total value of $221,819.84. Following the transaction, the director now directly owns 7,404 shares in the company, valued at approximately $968,369.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,297 shares of company stock worth $3,092,668. Insiders own 11.71% of the company’s stock.

PJT Partners 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.