PJT Partners (PJT) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of PJT Partners (NYSE:PJT) from a hold rating to a sell rating in a report released on Saturday, 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. “

Shares of PJT opened at $41.13 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.67 and a quick ratio of 2.67. PJT Partners has a one year low of $35.28 and a one year high of $61.18. The firm has a market capitalization of $918.54 million, a P/E ratio of 21.53, a PEG ratio of 0.70 and a beta of 1.15.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Thursday, February 7th. The financial services provider reported $0.60 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 firm had revenue of $175.39 million during the quarter. Equities research analysts predict that PJT Partners will post 2.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Tuesday, March 5th. PJT Partners’s payout ratio is currently 10.47%.

In related news, General Counsel James W. Cuminale sold 4,462 shares of PJT Partners stock in a transaction on Friday, March 8th. The stock was sold at an average price of $40.60, for a total transaction of $181,157.20. Following the transaction, the general counsel now directly owns 51,463 shares in the company, valued at $2,089,397.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Paul J. Taubman bought 4,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $42.92 per share, for a total transaction of $171,680.00. Following the completion of the transaction, the chairman now directly owns 453,200 shares of the company’s stock, valued at approximately $19,451,344. The disclosure for this purchase can be found here. Insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in PJT Partners by 1.3% during the third quarter. Vanguard Group Inc. now owns 913,355 shares of the financial services provider’s stock valued at $47,813,000 after purchasing an additional 11,394 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in PJT Partners by 51.5% during the third quarter. MetLife Investment Advisors LLC now owns 14,136 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 4,806 shares in the last quarter. Wells Fargo & Company MN lifted its position in PJT Partners by 44.5% during the third quarter. Wells Fargo & Company MN now owns 67,141 shares of the financial services provider’s stock valued at $3,515,000 after purchasing an additional 20,692 shares in the last quarter. Edge Wealth Management LLC lifted its position in PJT Partners by 42.5% during the fourth quarter. Edge Wealth Management LLC now owns 1,425 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 425 shares in the last quarter. Finally, First Bank & Trust purchased a new position in PJT Partners during the fourth quarter valued at $94,000. Institutional investors own 63.69% of the company’s stock.

PJT Partners Company Profile

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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