Squarepoint Ops LLC Raises Position in PJT Partners Inc. $PJT

Squarepoint Ops LLC raised its position in PJT Partners Inc. (NYSE:PJTFree Report) by 619.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,151 shares of the financial services provider’s stock after buying an additional 135,294 shares during the quarter. Squarepoint Ops LLC’s holdings in PJT Partners were worth $23,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Financial Management LLC bought a new stake in shares of PJT Partners during the 2nd quarter valued at $32,000. Versant Capital Management Inc boosted its stake in PJT Partners by 73.3% in the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 99 shares during the period. Allworth Financial LP grew its holdings in PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after buying an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of PJT Partners during the first quarter valued at about $50,000. Finally, State of Wyoming bought a new stake in shares of PJT Partners during the second quarter valued at about $63,000. Institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Down 0.6%

Shares of NYSE:PJT opened at $181.70 on Wednesday. The stock has a market cap of $4.65 billion, a PE ratio of 24.86 and a beta of 0.84. The company’s fifty day moving average is $170.78 and its 200 day moving average is $157.12. PJT Partners Inc. has a 52 week low of $127.73 and a 52 week high of $195.62.

PJT Partners (NYSE:PJTGet Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The firm had revenue of $486.29 million during the quarter, compared to the consensus estimate of $425.28 million. During the same quarter in the previous year, the company posted $1.54 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. Sell-side analysts anticipate that PJT Partners Inc. will post 8 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. PJT Partners’s payout ratio is currently 13.68%.

Insiders Place Their Bets

In other news, Director James Costos sold 1,723 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total value of $301,525.00. Following the completion of the sale, the director directly owned 11,289 shares of the company’s stock, valued at approximately $1,975,575. This trade represents a 13.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kievdi Cornwell sold 7,845 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $173.48, for a total transaction of $1,360,950.60. Following the completion of the sale, the director owned 18,865 shares of the company’s stock, valued at $3,272,700.20. This trade represents a 29.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,951 shares of company stock worth $2,061,681 in the last quarter. 10.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PJT shares. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a report on Wednesday, August 26th. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods upped their price target on shares of PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, BMO Capital Markets lifted their price objective on PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $177.50.

Check Out Our Latest Analysis on PJT Partners

About PJT Partners

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for PJT Partners (NYSE:PJT)

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