Crestline Management LP Makes New Investment in PJT Partners Inc. (NYSE:PJT)

Crestline Management LP purchased a new position in PJT Partners Inc. (NYSE:PJT) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,476 shares of the financial services provider’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. boosted its stake in PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 158 shares during the period. CIBC Private Wealth Group LLC boosted its stake in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 146 shares during the period. GAMMA Investing LLC boosted its stake in PJT Partners by 32.3% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 109 shares during the period. PNC Financial Services Group Inc. boosted its stake in PJT Partners by 51.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 176 shares during the period. Finally, KBC Group NV boosted its stake in PJT Partners by 25.4% in the 4th quarter. KBC Group NV now owns 1,007 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 204 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PJT. Citizens Jmp downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods increased their target price on PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Finally, JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $158.50.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel now directly owns 2,288 shares in the company, valued at $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.71% of the stock is owned by corporate insiders.

PJT Partners Stock Performance

NYSE PJT opened at $144.50 on Monday. The company has a market capitalization of $3.37 billion, a P/E ratio of 29.49 and a beta of 0.76. PJT Partners Inc. has a one year low of $99.42 and a one year high of $190.28. The stock has a 50 day moving average price of $137.97 and a 200-day moving average price of $152.45.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. PJT Partners’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, equities analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.25 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. PJT Partners’s dividend payout ratio is presently 17.64%.

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.