PJT Partners Inc (NYSE:PJT) Sees Significant Drop in Short Interest

PJT Partners Inc (NYSE:PJT) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 546,500 shares, a decline of 10.6% from the September 30th total of 611,000 shares. Based on an average trading volume of 107,300 shares, the short-interest ratio is presently 5.1 days. Currently, 2.8% of the shares of the stock are short sold.

Several brokerages have weighed in on PJT. Buckingham Research lifted their price objective on PJT Partners from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. ValuEngine raised PJT Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Zacks Investment Research cut PJT Partners from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Finally, Sandler O’Neill raised PJT Partners from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $49.50.

Shares of PJT Partners stock traded up $0.45 during trading on Friday, reaching $42.15. 87,039 shares of the company’s stock were exchanged, compared to its average volume of 114,372. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.85 and a current ratio of 2.85. PJT Partners has a 1-year low of $35.28 and a 1-year high of $49.14. The company has a market cap of $967.76 million, a P/E ratio of 21.05 and a beta of 1.25. The firm’s 50-day moving average price is $40.60 and its 200 day moving average price is $40.39.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. PJT Partners had a return on equity of 15.97% and a net margin of 3.13%. The company had revenue of $174.23 million during the quarter.

Several institutional investors have recently bought and sold shares of PJT. Cutler Group LP raised its holdings in shares of PJT Partners by 36.8% during the 3rd quarter. Cutler Group LP now owns 1,115 shares of the financial services provider’s stock worth $45,000 after buying an additional 300 shares in the last quarter. Aperio Group LLC acquired a new position in PJT Partners in the 2nd quarter worth about $53,000. Grisanti Capital Management LLC increased its holdings in PJT Partners by 92.1% in the 3rd quarter. Grisanti Capital Management LLC now owns 1,460 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 700 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in PJT Partners by 5,476.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,450 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,424 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in PJT Partners by 655.7% in the 2nd quarter. Bank of Montreal Can now owns 2,252 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 1,954 shares in the last quarter. 64.85% of the stock is owned by institutional investors.

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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