GW&K Investment Management LLC Cuts Stock Position in PJT Partners Inc. (NYSE:PJT)

GW&K Investment Management LLC lessened its holdings in PJT Partners Inc. (NYSE:PJT) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,904 shares of the financial services provider’s stock after selling 4,595 shares during the quarter. GW&K Investment Management LLC’s holdings in PJT Partners were worth $17,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Account Management LLC bought a new position in PJT Partners during the third quarter valued at about $202,000. M&T Bank Corp bought a new position in shares of PJT Partners during the 4th quarter valued at approximately $217,000. Quadrature Capital Ltd purchased a new stake in shares of PJT Partners during the 3rd quarter worth approximately $218,000. Cerity Partners LLC bought a new stake in shares of PJT Partners in the 4th quarter worth approximately $219,000. Finally, Everence Capital Management Inc. purchased a new position in PJT Partners in the fourth quarter valued at approximately $222,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Helen T. Meates sold 12,926 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the sale, the chief financial officer now directly owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’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 value of $1,045,800.00. Following the completion of the sale, the insider now owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $105.51, for a total transaction of $1,363,822.26. Following the completion of the transaction, the chief financial officer now owns 48,821 shares in the company, valued at approximately $5,151,103.71. The disclosure for this sale can be found here. Corporate insiders own 10.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PJT. UBS Group reissued a “sell” rating and issued a $75.00 target price (down from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, PJT Partners currently has an average rating of “Hold” and a consensus price target of $93.25.

PJT Partners Trading Up 0.2 %

Shares of NYSE PJT traded up $0.21 during mid-day trading on Wednesday, hitting $104.70. The company had a trading volume of 34,038 shares, compared to its average volume of 267,322. The stock’s 50-day moving average price is $96.39 and its 200-day moving average price is $96.13. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 28.78 and a beta of 0.67. PJT Partners Inc. has a 1 year low of $66.29 and a 1 year high of $107.35.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.45 by $0.53. The firm had revenue of $329.39 million during the quarter, compared to the consensus estimate of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.36%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. As a group, equities research analysts forecast that PJT Partners Inc. will post 4 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. PJT Partners’s payout ratio is currently 27.55%.

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.