JMP Securities Downgrades PJT Partners (NYSE:PJT) to Market Perform

PJT Partners (NYSE:PJT) was downgraded by equities researchers at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

Several other brokerages have also recently issued reports on PJT. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $151.00 to $159.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, PJT Partners currently has a consensus rating of “Hold” and an average target price of $152.25.

PJT Partners Stock Up 2.9 %

NYSE PJT opened at $156.65 on Monday. The company has a 50-day simple moving average of $159.58 and a two-hundred day simple moving average of $138.73. PJT Partners has a 12-month low of $88.51 and a 12-month high of $168.92. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 39.76 and a beta of 0.66.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. PJT Partners’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. Equities analysts expect that PJT Partners will post 4.4 earnings per share for the current fiscal year.

Insider Activity at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. The trade was a 13.81 % decrease in their position. 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. Corporate insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PJT. Quarry LP lifted its stake in shares of PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the period. GAMMA Investing LLC raised its holdings in PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares in the last quarter. KBC Group NV raised its holdings in PJT Partners by 113.0% in 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 in the last quarter. nVerses Capital LLC purchased a new position in PJT Partners during the third quarter valued at $213,000. Finally, D.A. Davidson & CO. bought a new stake in shares of PJT Partners during the 3rd quarter valued at $234,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.