Thornburg Investment Management Inc. Has $8.96 Million Holdings in PJT Partners Inc. $PJT

Thornburg Investment Management Inc. lifted its stake in PJT Partners Inc. (NYSE:PJT) by 30.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,566 shares of the financial services provider’s stock after buying an additional 12,566 shares during the period. Thornburg Investment Management Inc. owned about 0.22% of PJT Partners worth $8,956,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of PJT Partners by 28.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock worth $19,631,000 after buying an additional 24,502 shares in the last quarter. Bessemer Group Inc. increased its holdings in PJT Partners by 1,446.5% during the 4th quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock valued at $19,229,000 after purchasing an additional 107,564 shares in the last quarter. Azora Capital LP acquired a new stake in PJT Partners during the 3rd quarter valued at $40,061,000. Kornitzer Capital Management Inc. KS increased its holdings in PJT Partners by 28.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock valued at $5,861,000 after purchasing an additional 7,830 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in PJT Partners during the 4th quarter valued at $1,373,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PJT Partners

In other news, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the transaction, the general counsel directly owned 2,052 shares in the company, valued at $312,786.36. This trade represents a 59.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the transaction, the chief financial officer owned 58,466 shares in the company, valued at $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.98% of the stock is owned by company insiders.

PJT Partners Stock Performance

Shares of PJT opened at $152.16 on Monday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.18 and a beta of 0.85. The business’s fifty day moving average price is $154.27 and its two-hundred day moving average price is $158.94. PJT Partners Inc. has a 52 week low of $127.73 and a 52 week high of $195.62.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. The firm had revenue of $418.20 million for the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. As a group, research analysts forecast that PJT Partners Inc. will post 7.5 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, June 3rd. PJT Partners’s dividend payout ratio (DPR) is presently 14.58%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PJT. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a report on Wednesday, April 1st. Wall Street Zen cut PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Keefe, Bruyette & Woods raised their price target on PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Zacks Research cut PJT Partners from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $173.33.

PJT Partners 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.