PJT Partners Inc. (NYSE:PJT) Holdings Cut by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its stake in shares of PJT Partners Inc. (NYSE:PJT) by 29.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 233,972 shares of the financial services provider’s stock after selling 99,127 shares during the period. TimesSquare Capital Management LLC owned 0.97% of PJT Partners worth $23,835,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of PJT Partners in the third quarter valued at about $14,387,000. Chartwell Investment Partners LLC acquired a new stake in PJT Partners in the 3rd quarter valued at approximately $8,676,000. Eagle Asset Management Inc. increased its position in PJT Partners by 7.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 969,694 shares of the financial services provider’s stock worth $77,032,000 after buying an additional 69,485 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of PJT Partners by 6.7% during the third quarter. Clearbridge Investments LLC now owns 1,104,971 shares of the financial services provider’s stock worth $87,779,000 after buying an additional 68,951 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of PJT Partners by 244.3% in the third quarter. Envestnet Asset Management Inc. now owns 95,064 shares of the financial services provider’s stock valued at $7,552,000 after acquiring an additional 67,457 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Stock Down 0.1 %

PJT Partners stock traded down $0.09 on Wednesday, hitting $99.34. The company’s stock had a trading volume of 140,155 shares, compared to its average volume of 277,658. PJT Partners Inc. has a one year low of $61.03 and a one year high of $107.35. The firm has a market cap of $2.38 billion, a P/E ratio of 27.37 and a beta of 0.67. The company has a fifty day moving average price of $96.27 and a 200-day moving average price of $94.40.

PJT Partners (NYSE:PJT) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.53. The business had revenue of $329.39 million for the quarter, compared to analysts’ expectations of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Analysts anticipate that PJT Partners Inc. will post 4 EPS for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PJT. UBS Group reaffirmed a “sell” rating and set a $75.00 target price (down previously from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 price objective on shares of PJT Partners in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $99.00 target price (down from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.25.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the completion of the transaction, the general counsel now directly owns 1,541 shares in the company, valued at $143,636.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the transaction, the general counsel now directly owns 1,541 shares in the company, valued at $143,636.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the sale, the insider now directly owns 73,421 shares of the company’s stock, valued at approximately $7,678,368.18. The disclosure for this sale can be found here. Insiders have sold a total of 27,926 shares of company stock valued at $2,875,672 in the last 90 days. 10.67% of the stock is owned by corporate insiders.

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.