PJT Partners Inc. $PJT Holdings Cut by GW&K Investment Management LLC

GW&K Investment Management LLC reduced its stake in PJT Partners Inc. (NYSE:PJT) by 50.8% in the third quarter, HoldingsChannel.com reports. The fund owned 43,736 shares of the financial services provider’s stock after selling 45,246 shares during the quarter. GW&K Investment Management LLC’s holdings in PJT Partners were worth $7,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. boosted its holdings in shares of PJT Partners by 106.7% during the second quarter. Invesco Ltd. now owns 520,056 shares of the financial services provider’s stock valued at $85,814,000 after acquiring an additional 268,435 shares during the period. Schroder Investment Management Group grew its stake in shares of PJT Partners by 45.8% in the second quarter. Schroder Investment Management Group now owns 210,126 shares of the financial services provider’s stock worth $34,673,000 after purchasing an additional 66,031 shares in the last quarter. Flputnam Investment Management Co. increased its holdings in shares of PJT Partners by 874.1% during the third quarter. Flputnam Investment Management Co. now owns 68,155 shares of the financial services provider’s stock valued at $12,113,000 after purchasing an additional 61,158 shares during the period. Millennium Management LLC raised its position in shares of PJT Partners by 1,394.5% during the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock worth $7,247,000 after buying an additional 49,046 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of PJT Partners by 9.8% during the second quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider’s stock valued at $87,239,000 after acquiring an additional 47,279 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wolfe Research reissued an “underperform” rating and issued a $150.00 price objective on shares of PJT Partners in a research note on Wednesday, January 7th. Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. The Goldman Sachs Group decreased their target price on PJT Partners from $197.00 to $174.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Finally, Wall Street Zen cut shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PJT Partners currently has an average rating of “Hold” and a consensus target price of $179.50.

PJT Partners Price Performance

Shares of PJT opened at $144.10 on Friday. The business’s 50-day moving average is $166.70 and its 200-day moving average is $171.67. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 21.70 and a beta of 0.85. PJT Partners Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $195.62.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.41 by $0.14. The business had revenue of $535.16 million during the quarter, compared to analysts’ expectations of $533.32 million. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. Equities research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. PJT Partners’s payout ratio is 15.06%.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.