PJT Partners Inc (NYSE:PJT) Short Interest Update

PJT Partners Inc (NYSE:PJT) was the target of a large growth in short interest in May. As of May 29th, there was short interest totalling 364,100 shares, a growth of 6.9% from the May 14th total of 340,600 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 236,400 shares, the days-to-cover ratio is currently 1.5 days.

Shares of NYSE:PJT traded up $0.43 on Friday, hitting $52.15. 276,731 shares of the company were exchanged, compared to its average volume of 200,130. The company’s 50 day moving average price is $50.24 and its two-hundred day moving average price is $45.59. PJT Partners has a one year low of $23.63 and a one year high of $58.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.72 and a current ratio of 3.72. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 27.59 and a beta of 0.98.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.26. PJT Partners had a net margin of 5.99% and a return on equity of 20.97%. The company had revenue of $200.17 million for the quarter, compared to the consensus estimate of $215.48 million. Research analysts predict that PJT Partners will post 2.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. PJT Partners’s payout ratio is 8.30%.

PJT has been the topic of a number of recent research reports. JMP Securities cut their price target on shares of PJT Partners from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, April 9th. ValuEngine upgraded shares of PJT Partners from a “sell” rating to a “hold” rating in a report on Friday, March 27th. Zacks Investment Research downgraded shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler lifted their target price on shares of PJT Partners from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. PJT Partners currently has a consensus rating of “Buy” and an average target price of $55.75.

In other news, General Counsel James W. Cuminale sold 13,369 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $49.14, for a total transaction of $656,952.66. Following the transaction, the general counsel now owns 25,855 shares in the company, valued at approximately $1,270,514.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.10% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Eagle Asset Management Inc. increased its holdings in shares of PJT Partners by 0.6% during the 4th quarter. Eagle Asset Management Inc. now owns 1,358,443 shares of the financial services provider’s stock worth $61,306,000 after purchasing an additional 8,681 shares during the period. Clearbridge Investments LLC boosted its position in shares of PJT Partners by 40.4% during the 1st quarter. Clearbridge Investments LLC now owns 795,894 shares of the financial services provider’s stock valued at $34,534,000 after acquiring an additional 228,823 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of PJT Partners by 1,695.2% during the 1st quarter. Alliancebernstein L.P. now owns 732,438 shares of the financial services provider’s stock valued at $31,780,000 after acquiring an additional 691,638 shares in the last quarter. State Street Corp boosted its position in shares of PJT Partners by 2.6% during the 1st quarter. State Street Corp now owns 464,864 shares of the financial services provider’s stock valued at $20,170,000 after acquiring an additional 11,570 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of PJT Partners by 49.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 440,459 shares of the financial services provider’s stock valued at $19,112,000 after acquiring an additional 145,669 shares in the last quarter. Institutional investors own 64.52% 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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