PJT Partners Inc (PJT)
PJT Partners Inc., an investment bank, provides a variety of shareholder, restructuring and special situations, and capital market advisory services to corporations, financial backers, institutional investors and governments worldwide. The company is headquartered in New York, New York.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 3.74% per annum.
- PJT price at the close of May 17, 2024 was $101.22 and was higher than the top border of the primary price channel by $13.33 (15.17%).
- The secondary trend is increasing.
- The growth rate of the secondary trend is 72.72% per annum.
- PJT price at the close of May 17, 2024 was lower than the bottom border of the secondary price channel by $1.48 (1.44%). This indicates a possible reversal in the secondary trend direction.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of PJT price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: October 5, 2020
End date: November 1, 2023
a = 4.1447
b = 0.0001
s = 0.0740
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0001) – 1
= 3.74%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0740) – 1
= 34.46%
October 5, 2020 calculations
Top border of price channel:
Exp(Y348)
= Exp(a + b × X348 + 2 × s)
= Exp(a + b × 504 + 2 × s)
= Exp(4.1447 + 0.0001 × 504 + 2 × 0.0740)
= Exp(4.3434)
= $76.97
Bottom border of price channel:
Exp(Y348)
= Exp(a + b × X348 – 2 × s)
= Exp(a + b × 504 – 2 × s)
= Exp(4.1447 + 0.0001 × 504 – 2 × 0.0740)
= Exp(4.0473)
= $57.24
November 1, 2023 calculations
Top border of price channel:
Exp(Y1,122)
= Exp(a + b × X1,122 + 2 × s)
= Exp(a + b × 1,626 + 2 × s)
= Exp(4.1447 + 0.0001 × 1,626 + 2 × 0.0740)
= Exp(4.4562)
= $86.16
Bottom border of price channel:
Exp(Y1,122)
= Exp(a + b × X1,122 – 2 × s)
= Exp(a + b × 1,626 – 2 × s)
= Exp(4.1447 + 0.0001 × 1,626 – 2 × 0.0740)
= Exp(4.1601)
= $64.07
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 3.74% per annum.
- PJT price at the close of May 17, 2024 was $101.22 and was higher than the top border of the primary price channel by $13.33 (15.17%).
Secondary Trend
Start date: April 26, 2023
End date: March 15, 2024
a = 2.0057
b = 0.0015
s = 0.0525
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0015) – 1
= 72.72%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0525) – 1
= 23.37%
April 26, 2023 calculations
Top border of price channel:
Exp(Y991)
= Exp(a + b × X991 + 2 × s)
= Exp(a + b × 1,437 + 2 × s)
= Exp(2.0057 + 0.0015 × 1,437 + 2 × 0.0525)
= Exp(4.2623)
= $70.98
Bottom border of price channel:
Exp(Y991)
= Exp(a + b × X991 – 2 × s)
= Exp(a + b × 1,437 – 2 × s)
= Exp(2.0057 + 0.0015 × 1,437 – 2 × 0.0525)
= Exp(4.0523)
= $57.53
March 15, 2024 calculations
Top border of price channel:
Exp(Y1,214)
= Exp(a + b × X1,214 + 2 × s)
= Exp(a + b × 1,761 + 2 × s)
= Exp(2.0057 + 0.0015 × 1,761 + 2 × 0.0525)
= Exp(4.7475)
= $115.29
Bottom border of price channel:
Exp(Y1,214)
= Exp(a + b × X1,214 – 2 × s)
= Exp(a + b × 1,761 – 2 × s)
= Exp(2.0057 + 0.0015 × 1,761 – 2 × 0.0525)
= Exp(4.5375)
= $93.45
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 72.72% per annum.
- PJT price at the close of May 17, 2024 was lower than the bottom border of the secondary price channel by $1.48 (1.44%). This indicates a possible reversal in the secondary trend direction.