PJT Partners (NYSE:PJT) Sets New 52-Week High at $109.47

PJT Partners Inc. (NYSE:PJT)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $109.47 and last traded at $109.08, with a volume of 82554 shares traded. The stock had previously closed at $107.20.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group reiterated a “sell” rating and issued a $75.00 price target (down from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. JMP Securities reaffirmed a “market outperform” rating and set a $110.00 target price on shares of PJT Partners in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.25.

PJT Partners Price Performance

The stock has a market cap of $2.59 billion, a P/E ratio of 29.53 and a beta of 0.64. The firm’s fifty day moving average price is $102.19 and its two-hundred day moving average price is $99.45.

PJT Partners (NYSE:PJT) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.53. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. The business had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. During the same period in the prior year, the company earned $0.54 EPS. The company’s quarterly revenue was up 64.7% compared to the same quarter last year. On average, research analysts expect that PJT Partners Inc. will post 4 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Wednesday, June 5th. PJT Partners’s dividend payout ratio is currently 27.55%.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Maryland State Retirement & Pension System bought a new stake in shares of PJT Partners during the 4th quarter worth $826,000. Handelsbanken Fonder AB lifted its stake in PJT Partners by 65.4% during the fourth quarter. Handelsbanken Fonder AB now owns 4,300 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of PJT Partners in the 4th quarter worth about $1,397,000. Quadrature Capital Ltd increased its position in shares of PJT Partners by 338.1% during the 4th quarter. Quadrature Capital Ltd now owns 12,004 shares of the financial services provider’s stock valued at $1,222,000 after purchasing an additional 9,264 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of PJT Partners by 6,245.9% during the 4th quarter. International Assets Investment Management LLC now owns 7,742 shares of the financial services provider’s stock valued at $789,000 after buying an additional 7,620 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.