PJT Partners Inc. (PJT) Now Covered by JMP Securities

Equities research analysts at JMP Securities initiated coverage on shares of PJT Partners Inc. (NYSE:PJT) in a research report issued on Monday. The firm set an “outperform” rating and a $45.00 price target on the financial services provider’s stock. JMP Securities’ price objective would indicate a potential upside of 21.13% from the stock’s previous close.

PJT has been the topic of a number of other research reports. BidaskClub downgraded PJT Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised PJT Partners from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $45.67.

PJT Partners (NYSE PJT) opened at 37.15 on Monday. The company has a 50-day moving average price of $38.42 and a 200-day moving average price of $38.36. The stock’s market capitalization is $688.13 million. PJT Partners has a 12-month low of $25.09 and a 12-month high of $45.38.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.07). The business had revenue of $109.31 million for the quarter. PJT Partners had a negative return on equity of 115.47% and a negative net margin of 0.27%. Analysts expect that PJT Partners will post $1.73 earnings per share for the current fiscal year.

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In related news, Director Dennis S. Hersch purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $38.45 per share, for a total transaction of $76,900.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $692,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PJT. Penn Capital Management Co. Inc. acquired a new position in PJT Partners during the 2nd quarter worth approximately $7,551,000. FMR LLC grew its holdings in shares of PJT Partners by 41.1% in the 2nd quarter. FMR LLC now owns 514,349 shares of the financial services provider’s stock worth $20,687,000 after acquiring an additional 149,881 shares during the period. Renaissance Technologies LLC grew its holdings in shares of PJT Partners by 33.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,900 shares of the financial services provider’s stock worth $20,267,000 after acquiring an additional 126,700 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of PJT Partners in the 2nd quarter worth approximately $4,954,000. Finally, Soros Fund Management LLC acquired a new stake in shares of PJT Partners in the 1st quarter worth approximately $2,856,000. Institutional investors own 59.19% of the company’s stock.

About PJT Partners

PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.

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