PJT Partners (PJT) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of PJT Partners (NYSE:PJT) from a hold rating to a sell rating in a research note released on Saturday morning, Zacks.com reports.

According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “

NYSE:PJT opened at $40.24 on Friday. PJT Partners has a 12-month low of $35.28 and a 12-month high of $61.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a market capitalization of $910.35 million, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.14.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Thursday, February 7th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.18). PJT Partners had a return on equity of 17.81% and a net margin of 4.68%. The business had revenue of $175.39 million during the quarter. Equities analysts predict that PJT Partners will post 2.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.50%. The ex-dividend date was Tuesday, March 5th. PJT Partners’s dividend payout ratio (DPR) is presently 10.47%.

In other news, Chairman Paul J. Taubman acquired 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $40.58 per share, with a total value of $202,900.00. Following the completion of the acquisition, the chairman now owns 460,000 shares in the company, valued at approximately $18,666,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Paul J. Taubman acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $42.92 per share, with a total value of $171,680.00. Following the acquisition, the chairman now owns 453,200 shares of the company’s stock, valued at approximately $19,451,344. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of PJT Partners by 1.3% during the third quarter. Vanguard Group Inc. now owns 913,355 shares of the financial services provider’s stock worth $47,813,000 after buying an additional 11,394 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of PJT Partners by 1.3% during the third quarter. Vanguard Group Inc now owns 913,355 shares of the financial services provider’s stock worth $47,813,000 after buying an additional 11,394 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PJT Partners by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 441,217 shares of the financial services provider’s stock worth $17,102,000 after buying an additional 23,766 shares in the last quarter. Northern Trust Corp increased its holdings in shares of PJT Partners by 1.3% during the fourth quarter. Northern Trust Corp now owns 250,399 shares of the financial services provider’s stock worth $9,705,000 after buying an additional 3,269 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of PJT Partners by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 214,149 shares of the financial services provider’s stock worth $8,299,000 after buying an additional 24,166 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic advisory, shareholder engagement, 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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