PJT Partners Inc . (NYSE:PJT) Managing Partner, Lee Ji-Yeun, has sold a significant portion of her holdings in the company, according to the latest filings. On June 3, 2024, Lee disposed of a total of 10,000 shares of Class A Common Stock in multiple transactions, with prices ranging from $106.68 to $108.40. The total value of the shares sold by the executive reached approximately $1,072,749.
The transactions were executed in three separate trades, with the first lot of 5,473 shares sold at a weighted average price of $106.68. The second lot consisted of 3,748 shares, which were sold at a weighted average price of $107.91. The final lot involved 779 shares at a weighted average price of $108.40. These sales were made public in a Form 4 filing with the Securities and Exchange Commission.
Lee Ji-Yeun's recent stock sale has adjusted her total ownership in PJT Partners to 71,433 shares following the transactions. The prices at which the stock was sold were specified within certain ranges, as noted in the filing footnotes. For the first lot, the price ranged from $106.24 to $107.13, for the second lot from $107.27 to $108.23, and for the third lot from $108.31 to $108.45.
Investors and followers of PJT Partners Inc. often monitor such filings to gain insight into the actions of company insiders. The transactions by Lee Ji-Yeun represent a notable change in her investment in the firm, although the reasons behind the sales are not detailed in the disclosure.
For those interested in the specifics of the transactions or the exact number of shares sold at each price point within the reported ranges, the reporting person has undertaken to provide full information upon request to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission.
This disclosure comes as part of the routine reporting requirements for company insiders, providing transparency into their transactions involving the company's stock. As of the signature date on June 4, 2024, the filing was signed by David K.F. Gillis, as Attorney-in-Fact for Lee Ji-Yeun.
InvestingPro Insights
The recent sale of shares by PJT Partners Inc.'s Managing Partner, Lee Ji-Yeun, has caught the attention of investors, shedding light on the company's current financial health and market performance. According to InvestingPro data, PJT Partners boasts a robust market capitalization of $4.45 billion and has experienced impressive revenue growth, with the last twelve months as of Q1 2024 showing a 31.34% increase. Furthermore, the company's gross profit margin stands at a strong 96.02% for the same period, indicating efficient cost management and profitability.
InvestingPro Tips suggest that PJT Partners is expected to grow its net income this year, which may provide context to the insider selling activity. Additionally, the company has demonstrated a high return over the last year, with a 59.56% one-year price total return as of the date provided. It is also noteworthy that PJT Partners has been able to maintain dividend payments for nine consecutive years, reflecting a commitment to returning value to shareholders. This is particularly relevant for long-term investors who value consistent dividend payouts.
For those interested in deeper analysis and additional InvestingPro Tips, there are 11 more tips available that could provide further insights into PJT Partners' performance and outlook. These tips can be accessed through InvestingPro, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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