PJT Partners Inc. (PJT) Lowered to “Hold” at Zacks Investment Research

PJT Partners Inc. (NYSE:PJT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, July 12th.

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. “

Separately, Bank of America Corporation upgraded PJT Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $39.00 to $45.00 in a research note on Thursday, May 11th.

PJT Partners (PJT) traded down 1.44% during midday trading on Wednesday, reaching $43.82. The company’s stock had a trading volume of 51,900 shares. The stock’s 50 day moving average is $41.07 and its 200 day moving average is $36.99. PJT Partners has a 12-month low of $23.52 and a 12-month high of $44.97. The stock’s market cap is $811.63 million.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, May 2nd. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.08. PJT Partners had a positive return on equity of 1,891.52% and a negative net margin of 0.39%. The company had revenue of $120.97 million for the quarter. Analysts anticipate that PJT Partners will post $1.80 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the stock. Strs Ohio increased its stake in PJT Partners by 6.5% in the second quarter. Strs Ohio now owns 6,600 shares of the financial services provider’s stock worth $265,000 after buying an additional 400 shares during the last quarter. Malaga Cove Capital LLC purchased a new stake in PJT Partners during the second quarter worth approximately $736,000. Hartwell J M Limited Partnership bought a new position in PJT Partners during the second quarter worth $381,000. Goldman Sachs Group Inc. boosted its position in PJT Partners by 133.3% in the first quarter. Goldman Sachs Group Inc. now owns 25,071 shares of the financial services provider’s stock worth $880,000 after buying an additional 14,327 shares during the period. Finally, Soros Fund Management LLC bought a new position in PJT Partners during the first quarter worth $2,856,000. Hedge funds and other institutional investors own 58.13% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.

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