PJT Partners (PJT) Rose as Results Surpassed Expectations

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Small-cap stocks were unable to sustain the positive gains made in the first quarter and finished the second quarter in negative territory. Among the style indexes, the Russell 2000® Growth Index outperformed the Russell 2000® Value Index by a modest margin, with a decrease of 2.92% compared to a decrease of 3.75%. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Carillon Eagle Small Cap Growth Fund highlighted stocks like PJT Partners Inc. (NYSE:PJT), in the second quarter 2024 investor letter. PJT Partners Inc. (NYSE:PJT) is an investment bank that provides advisory-investment solutions. The one-month return of PJT Partners Inc. (NYSE:PJT) was -2.80%, and its shares gained 55.88% of their value over the last 52 weeks. On August 28, 2024, PJT Partners Inc. (NYSE:PJT) stock closed at $123.13 per share with a market capitalization of $4.856 billion.

Carillon Eagle Small Cap Growth Fund stated the following regarding PJT Partners Inc. (NYSE:PJT) in its Q2 2024 investor letter:

“PJT Partners Inc. (NYSE:PJT) is a global advisory-focused boutique investment bank. The company reported quarterly results well ahead of expectations. The strong results were driven by a combination of factors, including the impact from a much higher level of senior hiring as well as from continued strength in the restructuring division.”

A trader on a busy trading floor, his hands on a keyboard as the markets rise.

PJT Partners Inc. (NYSE:PJT) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held PJT Partners Inc. (NYSE:PJT) at the end of the second quarter which was 17 in the previous quarter. In the second quarter, PJT Partners Inc. (NYSE:PJT) recorded $360 million in revenues, up 4% year-over-year. While we acknowledge the potential of PJT Partners Inc. (NYSE:PJT) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed PJT Partners Inc. (NYSE:PJT) and shared Carillon Eagle Small Cap Growth Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.