GAMMA Investing LLC Trims Stock Holdings in PJT Partners Inc. $PJT

GAMMA Investing LLC cut its holdings in PJT Partners Inc. (NYSE:PJT) by 17.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 492 shares of the financial services provider’s stock after selling 103 shares during the quarter. GAMMA Investing LLC’s holdings in PJT Partners were worth $81,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PJT. New York State Teachers Retirement System grew its stake in shares of PJT Partners by 11.4% in the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider’s stock worth $1,689,000 after acquiring an additional 1,254 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of PJT Partners during the fourth quarter valued at approximately $555,000. Voya Investment Management LLC grew its holdings in shares of PJT Partners by 31.1% during the first quarter. Voya Investment Management LLC now owns 17,429 shares of the financial services provider’s stock valued at $2,403,000 after buying an additional 4,136 shares during the last quarter. Principal Financial Group Inc. boosted its stake in PJT Partners by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider’s stock valued at $19,797,000 after purchasing an additional 3,645 shares during the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in PJT Partners during the 1st quarter valued at $3,373,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 2,288 shares of PJT Partners stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the sale, the director owned 500 shares in the company, valued at $88,445. The trade was a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wolfe Research reaffirmed an “underperform” rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $161.00 to $199.00 and gave the company a “market perform” rating in a report on Monday, July 14th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PJT Partners presently has a consensus rating of “Reduce” and an average price target of $174.67.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $177.24 on Friday. The company’s fifty day simple moving average is $180.45 and its 200-day simple moving average is $160.98. The stock has a market capitalization of $4.31 billion, a PE ratio of 30.45 and a beta of 0.76. PJT Partners Inc. has a 1-year low of $119.76 and a 1-year high of $190.27.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.18. The company had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.PJT Partners’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share. As a group, research analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. PJT Partners’s payout ratio is presently 17.18%.

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.