Insider Buying: PJT Partners Inc. (PJT) Director Buys 2,000 Shares of Stock
PJT Partners Inc. (NYSE:PJT) Director Dennis S. Hersch bought 2,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $38.45 per share, for a total transaction of $76,900.00. Following the completion of the purchase, the director now owns 18,000 shares in the company, valued at $692,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of PJT Partners Inc. (NYSE:PJT) traded up 0.28% during mid-day trading on Wednesday, reaching $38.82. 62,764 shares of the company’s stock traded hands. PJT Partners Inc. has a 52 week low of $23.98 and a 52 week high of $45.38. The company’s 50 day moving average is $41.67 and its 200-day moving average is $37.96. The firm’s market cap is $719.06 million.
PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.07. PJT Partners had a negative net margin of 0.27% and a negative return on equity of 115.47%. The business had revenue of $109.31 million during the quarter. Equities analysts expect that PJT Partners Inc. will post $1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.20 annualized dividend and a yield of 0.52%. PJT Partners’s payout ratio is currently -200.00%.
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A number of large investors have recently modified their holdings of the stock. HighVista Strategies LLC acquired a new stake in shares of PJT Partners during the first quarter valued at about $1,284,000. Soros Fund Management LLC acquired a new stake in shares of PJT Partners during the first quarter valued at about $2,856,000. Renaissance Technologies LLC raised its stake in shares of PJT Partners by 32.3% in the first quarter. Renaissance Technologies LLC now owns 377,200 shares of the financial services provider’s stock valued at $13,236,000 after buying an additional 92,100 shares during the last quarter. Hartwell J M Limited Partnership acquired a new stake in shares of PJT Partners during the second quarter valued at about $381,000. Finally, Bessemer Group Inc. raised its stake in shares of PJT Partners by 6.0% in the second quarter. Bessemer Group Inc. now owns 28,342 shares of the financial services provider’s stock valued at $1,140,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 57.97% of the company’s stock.
Several analysts have issued reports on PJT shares. BidaskClub downgraded shares of PJT Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Bank of America Corporation raised shares of PJT Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $39.00 to $45.00 in a research note on Thursday, May 11th. Finally, Zacks Investment Research downgraded shares of PJT Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th.
About PJT Partners
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
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