PJT Partners, Inc. Class A (PJT)

In the past six months, PJT Partners reported its Q1 and Q2 2025 financial results, with Q2 revenues up 13% and adjusted EPS up 29%. Peter L.S. Currie joined the Board of Directors. PJT was noted as the lead advisor to Boeing and was hired by Stegra for financing. Analyst ratings were updated, with BMO Capital Markets initiating coverage with an "outperform" rating and a $205.00 price objective, while Keefe, Bruyette & Woods cut their price objective from $196.00 to $180.00 with a "hold" rating. The stock performance showed a gain of +30.1%.

The investment banking industry is cyclical, but PJT's business model is designed to be resilient across various economic environments. While M&A activity can slow down, restructuring activity often increases in pressurized economic climates. The firm's diversified revenue streams help balance the impact of cyclical demand, and when M&A activity is down, institutional investors may turn to the secondary market for liquidity, which can benefit PJT's Park Hill division.

PJT Partners Inc. is a global advisory-focused investment bank specializing in independent, conflict-free advice to corporations, governments, and institutional investors. Established in 2015 as a spin-off from The Blackstone Group, its core business segments include Strategic Advisory, Restructuring & Special Situations, and PJT Park Hill. The Strategic Advisory segment offers guidance on M&A, divestitures, and corporate finance. The Restructuring & Special Situations segment advises stakeholders in distressed situations. PJT Park Hill acts as a fund placement agent and financial advisory service.

PJT Partners is headquartered in New York City and has a significant global presence with offices across North America, Europe, and Asia, including locations such as Boston, London, Hong Kong and Sydney. Approximately 28% of PJT's employees are located outside the U.S.

PJT Partners has a strong brand reputation as a prestigious independent investment banking firm, recognized for its expertise in M&A and restructuring deals. The firm is known for offering significant responsibility to its junior bankers and interns, and its restructuring group is celebrated for its top pay and strong culture. The firm has also increased its philanthropy and CSR efforts and offers diversity scholarships. While highly respected within the finance industry, its brand recognition tends to be more exclusive to those in the sector.

Institutional investors hold a significant majority of PJT Partners Inc.'s stock, owning approximately 89.23% or 88.5% of the company's shares. Individual insiders own a smaller but notable portion, around 7.37% or 7.34%. Several institutional investors have recently modified their holdings, with some increasing their stakes or buying new ones in the third quarter of 2025.