PJT Partners Inc. (PJT) Rating Lowered to Sell at BidaskClub

PJT Partners Inc. (NYSE:PJT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

PJT has been the subject of a number of other reports. Bank of America Corporation raised PJT Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $39.00 to $45.00 in a report on Thursday, May 11th. Zacks Investment Research raised PJT Partners from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Wednesday, April 19th.

PJT Partners (PJT) opened at 40.59 on Tuesday. The firm’s market capitalization is $751.61 million. PJT Partners has a 12 month low of $23.98 and a 12 month high of $45.38. The company’s 50-day moving average price is $41.77 and its 200 day moving average price is $37.71.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.07. The business had revenue of $109.31 million for the quarter. PJT Partners had a negative return on equity of 115.47% and a negative net margin of 0.27%. Analysts predict that PJT Partners will post $1.73 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in PJT. HighVista Strategies LLC acquired a new stake in shares of PJT Partners during the first quarter worth about $1,284,000. Soros Fund Management LLC acquired a new stake in shares of PJT Partners during the first quarter worth about $2,856,000. Renaissance Technologies LLC increased its stake in shares of PJT Partners by 32.3% in the first quarter. Renaissance Technologies LLC now owns 377,200 shares of the financial services provider’s stock worth $13,236,000 after buying an additional 92,100 shares during the period. Hartwell J M Limited Partnership purchased a new stake in PJT Partners during the second quarter valued at $381,000. Finally, Malaga Cove Capital LLC purchased a new stake in PJT Partners during the second quarter valued at $736,000. 58.03% of the stock is owned by institutional investors.

About PJT Partners

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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