Piper Jaffray Companies (NYSE:PJC) Short Interest Update

Piper Jaffray Companies (NYSE:PJC) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 391,900 shares, a decrease of 28.8% from the September 15th total of 550,400 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 84,300 shares, the days-to-cover ratio is presently 4.6 days.

Shares of NYSE PJC traded up $1.53 during mid-day trading on Monday, reaching $75.60. 66,530 shares of the company were exchanged, compared to its average volume of 82,824. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 12.33 and a beta of 1.37. Piper Jaffray Companies has a 1 year low of $61.35 and a 1 year high of $82.52. The firm has a 50-day moving average of $74.21 and a 200 day moving average of $74.77.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. The firm had revenue of $172.42 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $0.92 EPS. Analysts anticipate that Piper Jaffray Companies will post 6.23 earnings per share for the current year.

A number of equities analysts have recently issued reports on PJC shares. Zacks Investment Research downgraded Piper Jaffray Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Northland Securities restated a “buy” rating and set a $89.00 price objective on shares of Piper Jaffray Companies in a research note on Friday, July 26th. Finally, Buckingham Research assumed coverage on Piper Jaffray Companies in a research note on Friday, October 4th. They set a “neutral” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $85.33.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Convergence Investment Partners LLC raised its stake in Piper Jaffray Companies by 17.8% in the second quarter. Convergence Investment Partners LLC now owns 2,440 shares of the financial services provider’s stock valued at $181,000 after buying an additional 369 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Piper Jaffray Companies by 74.8% in the second quarter. Russell Investments Group Ltd. now owns 25,787 shares of the financial services provider’s stock valued at $1,916,000 after buying an additional 11,031 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Piper Jaffray Companies by 5.4% in the second quarter. Nuveen Asset Management LLC now owns 476,426 shares of the financial services provider’s stock valued at $35,385,000 after buying an additional 24,525 shares during the last quarter. Fisher Asset Management LLC raised its stake in Piper Jaffray Companies by 17.9% in the second quarter. Fisher Asset Management LLC now owns 123,386 shares of the financial services provider’s stock valued at $9,164,000 after buying an additional 18,749 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Piper Jaffray Companies by 84.7% in the second quarter. Jacobs Levy Equity Management Inc. now owns 60,072 shares of the financial services provider’s stock valued at $4,462,000 after buying an additional 27,556 shares during the last quarter. Hedge funds and other institutional investors own 78.15% of the company’s stock.

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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