Piper Jaffray Companies (NYSE:PJC) Sees Large Decrease in Short Interest

Piper Jaffray Companies (NYSE:PJC) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 565,900 shares, a drop of 12.3% from the July 31st total of 645,600 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average trading volume of 95,800 shares, the short-interest ratio is presently 5.9 days.

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in Piper Jaffray Companies by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 609,405 shares of the financial services provider’s stock worth $40,124,000 after acquiring an additional 11,613 shares during the period. Invesco Ltd. boosted its position in Piper Jaffray Companies by 56.8% during the second quarter. Invesco Ltd. now owns 500,774 shares of the financial services provider’s stock worth $37,191,000 after purchasing an additional 181,489 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Piper Jaffray Companies by 5.4% during the second quarter. Nuveen Asset Management LLC now owns 476,426 shares of the financial services provider’s stock worth $35,385,000 after purchasing an additional 24,525 shares in the last quarter. Victory Capital Management Inc. boosted its position in Piper Jaffray Companies by 1.5% during the first quarter. Victory Capital Management Inc. now owns 295,508 shares of the financial services provider’s stock worth $21,522,000 after purchasing an additional 4,238 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Piper Jaffray Companies by 1.5% during the second quarter. Northern Trust Corp now owns 200,391 shares of the financial services provider’s stock worth $14,884,000 after purchasing an additional 2,903 shares in the last quarter. 78.11% of the stock is currently owned by hedge funds and other institutional investors.

Piper Jaffray Companies stock traded up $0.18 during midday trading on Friday, hitting $78.09. 53,265 shares of the company were exchanged, compared to its average volume of 82,651. The firm has a market capitalization of $1.08 billion, a PE ratio of 12.74 and a beta of 1.37. Piper Jaffray Companies has a fifty-two week low of $61.35 and a fifty-two week high of $82.52. The business has a fifty day simple moving average of $73.51 and a two-hundred day simple moving average of $74.27.

Piper Jaffray Companies (NYSE:PJC) last posted its earnings results on Friday, July 26th. The financial services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. The firm had revenue of $172.42 million for the quarter, compared to analyst estimates of $155.26 million. Piper Jaffray Companies had a return on equity of 12.54% and a net margin of 7.80%. During the same period last year, the company earned $0.92 earnings per share. Equities research analysts expect that Piper Jaffray Companies will post 6.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, August 22nd. Piper Jaffray Companies’s dividend payout ratio (DPR) is 24.47%.

Several analysts recently commented on PJC shares. Northland Securities reaffirmed a “buy” rating and set a $89.00 target price on shares of Piper Jaffray Companies in a report on Friday, July 26th. Zacks Investment Research lowered Piper Jaffray Companies from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd.

Piper Jaffray Companies Company Profile

Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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