Castleark Management LLC Has $2.45 Million Position in PJT Partners Inc. (NYSE:PJT)

Castleark Management LLC lessened its position in PJT Partners Inc. (NYSE:PJT) by 52.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,980 shares of the financial services provider’s stock after selling 29,186 shares during the quarter. Castleark Management LLC owned approximately 0.11% of PJT Partners worth $2,449,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PJT. Fidelis Capital Partners LLC bought a new position in shares of PJT Partners during the 1st quarter worth approximately $39,000. EntryPoint Capital LLC grew its position in PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 359 shares in the last quarter. Shell Asset Management Co. increased its stake in PJT Partners by 41.0% in the 1st quarter. Shell Asset Management Co. now owns 2,074 shares of the financial services provider’s stock valued at $195,000 after buying an additional 603 shares during the last quarter. M&T Bank Corp bought a new stake in PJT Partners during the 4th quarter worth about $217,000. Finally, Cerity Partners LLC acquired a new position in shares of PJT Partners during the 4th quarter worth about $219,000. Institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Down 4.1 %

Shares of PJT traded down $5.45 during midday trading on Thursday, reaching $127.49. 93,696 shares of the stock were exchanged, compared to its average volume of 253,155. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $136.90. The stock’s 50 day simple moving average is $110.97 and its 200 day simple moving average is $102.50. The company has a market cap of $3.06 billion, a P/E ratio of 35.19 and a beta of 0.62.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.49. The business had revenue of $360.00 million during the quarter, compared to the consensus estimate of $281.93 million. PJT Partners had a return on equity of 18.12% and a net margin of 7.96%. PJT Partners’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, analysts predict that PJT Partners Inc. will post 4 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, September 4th. PJT Partners’s dividend payout ratio is presently 27.55%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group boosted their price target on PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 target price (up from $108.00) on shares of PJT Partners in a research note on Wednesday. Finally, JMP Securities upped their price target on shares of PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.80.

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.