Gamco Investors INC. ET AL decreased its holdings in PJT Partners Inc (NYSE:PJT) by 32.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,117 shares of the financial services provider’s stock after selling 50,000 shares during the period. Gamco Investors INC. ET AL owned 0.51% of PJT Partners worth $5,503,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in shares of PJT Partners by 78.9% in the second quarter. FMR LLC now owns 1,851,734 shares of the financial services provider’s stock valued at $98,864,000 after acquiring an additional 816,714 shares during the period. Eagle Asset Management Inc. lifted its position in PJT Partners by 176.2% during the second quarter. Eagle Asset Management Inc. now owns 846,102 shares of the financial services provider’s stock valued at $45,173,000 after purchasing an additional 539,716 shares during the last quarter. Carillon Tower Advisers Inc. bought a new stake in PJT Partners during the second quarter valued at approximately $13,713,000. BlackRock Inc. lifted its position in PJT Partners by 18.7% during the second quarter. BlackRock Inc. now owns 1,495,152 shares of the financial services provider’s stock valued at $79,827,000 after purchasing an additional 235,094 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in PJT Partners by 37.5% during the second quarter. Renaissance Technologies LLC now owns 705,300 shares of the financial services provider’s stock valued at $37,656,000 after purchasing an additional 192,500 shares during the last quarter. Hedge funds and other institutional investors own 60.59% of the company’s stock.
Shares of PJT traded up $0.34 during mid-day trading on Monday, reaching $47.57. The company’s stock had a trading volume of 110,000 shares, compared to its average volume of 146,201. PJT Partners Inc has a 52 week low of $40.78 and a 52 week high of $61.18. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 30.89 and a beta of 0.79.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Tuesday, December 4th. PJT Partners’s payout ratio is 12.99%.
PJT has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of PJT Partners from a “sell” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Tuesday, September 18th. TheStreet upgraded shares of PJT Partners from a “d” rating to a “c” rating in a report on Monday, September 17th. Goldman Sachs Group began coverage on shares of PJT Partners in a report on Tuesday, November 6th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Bank of America upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $55.00 in a report on Monday, November 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $57.80.
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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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