Thornburg Investment Management Inc. Acquires 12,566 Shares of PJT Partners Inc. $PJT

Thornburg Investment Management Inc. boosted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 30.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,566 shares of the financial services provider’s stock after purchasing an additional 12,566 shares during the period. Thornburg Investment Management Inc.’s holdings in PJT Partners were worth $8,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in PJT Partners during the third quarter worth about $33,000. Allworth Financial LP lifted its holdings in PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 133 shares in the last quarter. State of Wyoming acquired a new stake in shares of PJT Partners in the 2nd quarter valued at about $63,000. Kestra Advisory Services LLC acquired a new stake in shares of PJT Partners in the 4th quarter valued at about $65,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of PJT Partners in the 4th quarter valued at about $86,000. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the transaction, the chief financial officer owned 58,466 shares of the company’s stock, valued at $8,956,406.54. The trade was a 12.04% 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. Also, General Counsel David Adam Travin sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the transaction, the general counsel directly owned 2,052 shares in the company, valued at approximately $312,786.36. This trade represents a 59.38% decrease in their position. The SEC filing for this sale provides additional information. 10.98% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on PJT. Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Wednesday, April 1st. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Keefe, Bruyette & Woods lifted their price target on PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Zacks Research downgraded PJT Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $173.33.

PJT Partners Stock Performance

NYSE:PJT opened at $152.16 on Monday. The stock’s 50-day simple moving average is $154.27 and its 200 day simple moving average is $158.94. The company has a market cap of $3.93 billion, a P/E ratio of 22.18 and a beta of 0.85. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.03. The firm had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The business’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, equities analysts predict that PJT Partners Inc. will post 7.5 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, June 3rd. PJT Partners’s payout ratio is 14.58%.

PJT Partners Profile

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.