PJT Partners Inc (NYSE:PJT) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,011,366 shares, an increase of 84.9% from the July 13th total of 547,005 shares. Currently, 5.4% of the company’s shares are sold short. Based on an average daily trading volume, of 191,167 shares, the days-to-cover ratio is currently 5.3 days.
Several equities research analysts have issued reports on PJT shares. ValuEngine upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Sandler O’Neill set a $58.00 price objective on shares of PJT Partners and gave the stock a “hold” rating in a research note on Friday, July 13th. Finally, Bank of America downgraded shares of PJT Partners from a “buy” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research note on Monday, July 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $55.80.
NYSE PJT opened at $59.05 on Friday. PJT Partners has a 52 week low of $35.47 and a 52 week high of $61.18. The firm has a market cap of $1.22 billion, a PE ratio of 38.34 and a beta of 0.43.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Wednesday, September 5th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. PJT Partners’s payout ratio is currently 12.99%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of PJT Partners during the first quarter worth $330,000. Old Mutual Global Investors UK Ltd. lifted its position in shares of PJT Partners by 35.9% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 89,335 shares of the financial services provider’s stock worth $4,475,000 after purchasing an additional 23,601 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of PJT Partners by 50.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 11,355 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 3,825 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of PJT Partners by 13.3% during the first quarter. Wells Fargo & Company MN now owns 55,461 shares of the financial services provider’s stock worth $2,779,000 after purchasing an additional 6,529 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of PJT Partners during the first quarter worth $416,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.
About PJT Partners
PJT Partners Inc provides various strategic advisory, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.
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