PJT Partners (NYSE:PJT) Sets New 12-Month High Following Strong Earnings

Shares of PJT Partners Inc. (NYSE:PJT) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $189.00 and last traded at $186.97, with a volume of 92785 shares traded. The stock had previously closed at $165.33.

The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.19 by $0.71. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The business’s quarterly revenue was up 45.3% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PJT. Keefe, Bruyette & Woods lowered their target price on shares of PJT Partners from $159.00 to $152.00 and set a “market perform” rating for the company in a report on Monday, January 13th. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities lowered PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Finally, Citizens Jmp cut PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $152.25.

Insiders Place Their Bets

In other news, Director James Costos sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now directly owns 9,360 shares of the company’s stock, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock worth $762,980 over the last quarter. 11.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its position 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 valued at $1,129,000 after purchasing an additional 141 shares in the last quarter. Bank of Montreal Can raised its holdings in PJT Partners by 102.5% in the second quarter. Bank of Montreal Can now owns 4,989 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 2,525 shares in the last quarter. AQR Capital Management LLC boosted its stake in PJT Partners by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 136 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in PJT Partners by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,176 shares of the financial services provider’s stock worth $1,422,000 after acquiring an additional 427 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of PJT Partners in the 2nd quarter worth about $247,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Performance

The business’s 50 day moving average price is $160.59 and its 200-day moving average price is $144.05. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 44.16 and a beta of 0.67.

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.