NEW YORK—Costos James, a director at PJT Partners Inc . (NYSE:PJT), has sold 1,500 shares of the company’s Class A Common Stock. The shares were sold on November 7 at a price of $161.41 each, amounting to a total transaction value of $242,115. Following this sale, James retains ownership of 9,360 shares in the company. The transaction was officially documented in a Form 4 filing with the Securities and Exchange Commission on November 8.
In other recent news, PJT Partners has reported noteworthy growth in its Q3 earnings and revenue. The company's Q3 revenue saw a 17% year-over-year increase, reaching a record $326 million, while its nine-month revenues rose by 23% to $1.016 billion. Adjusted earnings per share (EPS) for the quarter were up 19% at $0.93, and a nine-month increase of 35% to $3.10 was also reported.
The acquisition of deNovo Partners is expected to enhance PJT's presence in the Middle East. The firm's CEO, Paul Taubman, expressed confidence in the company's growth prospects and anticipates a continued restructuring cycle. PJT Partners is also bullish on the M&A environment for 2025, with increased capabilities and a favorable market.
These recent developments are part of PJT Partners' strategic expansion, which has resulted in a strong cash position and no funded debt. The company has also declared a dividend of $0.25 per share, payable in December 2024. Despite concerns about rising structural costs and headcount growth outpacing revenue growth, PJT Partners remains optimistic about its future.
InvestingPro Insights
The recent insider sale by Costos James comes at a time when PJT Partners Inc. (NYSE:PJT) is experiencing significant market momentum. According to InvestingPro data, PJT's stock has shown remarkable performance, with a 95.63% price total return over the past year and a 61.16% return in the last six months. This strong upward trend is further evidenced by the stock trading at 97.46% of its 52-week high, indicating investor confidence in the company's prospects.
InvestingPro Tips highlight that PJT has maintained dividend payments for 9 consecutive years, which may be attractive to income-focused investors despite the relatively modest dividend yield of 0.63%. The company's financial health appears robust, with a revenue growth of 21.75% in the last twelve months and a high gross profit margin of 95.91%, suggesting efficient operations.
However, investors should note that PJT is trading at a high P/E ratio of 37.72, which is considered elevated relative to its near-term earnings growth. This valuation metric, along with a Price / Book multiple of 41.28, indicates that the stock may be priced at a premium compared to its fundamentals.
For those interested in a deeper analysis, InvestingPro offers 16 additional tips for PJT Partners, providing a more comprehensive view of the company's financial position and market outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.