Virtu Financial LLC Takes $631,000 Position in PJT Partners Inc. (NYSE:PJT)

Virtu Financial LLC purchased a new position in shares of PJT Partners Inc. (NYSE:PJT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,734 shares of the financial services provider’s stock, valued at approximately $631,000.

Other hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its holdings in shares of PJT Partners by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $1,198,000 after purchasing an additional 100 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in PJT Partners by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock valued at $1,295,000 after buying an additional 158 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in PJT Partners by 24.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock valued at $11,427,000 after acquiring an additional 20,845 shares during the last quarter. Versor Investments LP bought a new position in PJT Partners in the second quarter valued at about $746,000. Finally, SouthState Corp acquired a new position in PJT Partners during the second quarter worth about $26,000. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PJT. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities boosted their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $134.80.

Insider Buying and Selling at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the transaction, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,766 shares of company stock valued at $762,980. 11.71% of the stock is currently owned by company insiders.

PJT Partners Price Performance

Shares of NYSE PJT opened at $163.91 on Friday. The company has a 50 day simple moving average of $153.12 and a 200 day simple moving average of $130.56. PJT Partners Inc. has a 1 year low of $88.51 and a 1 year high of $168.92. The firm has a market cap of $3.88 billion, a PE ratio of 41.60 and a beta of 0.65.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same period last year, the company earned $0.78 EPS. PJT Partners’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s payout ratio is presently 25.38%.

PJT Partners 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.