Quadrature Capital Ltd Buys New Position in PJT Partners Inc. (NYSE:PJT)

Quadrature Capital Ltd bought a new position in PJT Partners Inc. (NYSE:PJT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,947 shares of the financial services provider’s stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PJT. Diversified Trust Co boosted its stake in PJT Partners by 54.8% during the second quarter. Diversified Trust Co now owns 4,900 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 1,735 shares in the last quarter. Ellsworth Advisors LLC grew its stake in shares of PJT Partners by 6.7% in the 2nd quarter. Ellsworth Advisors LLC now owns 5,237 shares of the financial services provider’s stock valued at $565,000 after buying an additional 331 shares during the period. Portside Wealth Group LLC acquired a new stake in shares of PJT Partners in the 2nd quarter valued at about $378,000. Louisiana State Employees Retirement System increased its position in PJT Partners by 0.9% in the 2nd 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. Finally, Cambridge Investment Research Advisors Inc. raised its stake in PJT Partners by 1.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 158 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PJT. JMP Securities raised their price objective on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $175.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $134.80.

PJT Partners Stock Down 3.3 %

Shares of PJT Partners stock opened at $158.71 on Tuesday. PJT Partners Inc. has a 52 week low of $88.51 and a 52 week high of $168.92. The business has a 50 day moving average price of $150.78 and a 200-day moving average price of $129.15. The company has a market cap of $3.76 billion, a PE ratio of 40.28 and a beta of 0.65.

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

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

Insiders Place Their Bets

In other news, Director James Costos sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the transaction, the director now directly owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the sale, the director now owns 9,100 shares in the company, valued at $1,453,725. This trade represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,766 shares of company stock valued at $762,980. Corporate insiders own 11.71% of the company’s stock.

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.