PJT Partners Insider Sale Is Noise — Deal Flow Is What to Watch

PJT Partners' General Counsel David Travin sold 3,000 shares (~$457K) in May 2026, reducing his direct holdings by 59.38%. The article argues this insider sale is routine compensation management and not indicative of conviction in the stock. The real metric to watch for PJT is deal flow and transaction volume, as the independent investment bank's earnings are tied to deal cycles rather than predictable schedules.