LPL Financial Holdings Inc (NASDAQ:LPLA) Short Interest Down 67.0% in July

LPL Financial Holdings Inc (NASDAQ:LPLA) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 725,100 shares, a decrease of 67.0% from the June 30th total of 2,200,000 shares. Based on an average trading volume of 870,100 shares, the short-interest ratio is currently 0.8 days. Currently, 0.9% of the shares of the company are sold short.

A number of analysts recently issued reports on LPLA shares. Morgan Stanley increased their price target on shares of LPL Financial from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday. ValuEngine raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Friday, July 24th. BidaskClub downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Thursday, July 9th. Credit Suisse Group increased their price target on shares of LPL Financial from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Zacks Investment Research raised shares of LPL Financial from a “sell” rating to a “hold” rating and set a $55.00 price target on the stock in a report on Tuesday, May 12th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $84.20.

In other news, Director Richard Steinmeier sold 5,418 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $86.02, for a total value of $466,056.36. Following the sale, the director now directly owns 57,175 shares of the company’s stock, valued at approximately $4,918,193.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $85.70, for a total transaction of $1,714,000.00. Following the completion of the sale, the chief executive officer now directly owns 232,159 shares in the company, valued at $19,896,026.30. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of LPL Financial by 0.6% in the first quarter. BlackRock Inc. now owns 3,961,471 shares of the financial services provider’s stock valued at $215,622,000 after buying an additional 24,160 shares during the last quarter. Samlyn Capital LLC raised its position in shares of LPL Financial by 9.6% in the first quarter. Samlyn Capital LLC now owns 3,773,455 shares of the financial services provider’s stock valued at $205,390,000 after buying an additional 329,743 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of LPL Financial by 19.9% in the first quarter. Bank of New York Mellon Corp now owns 2,166,784 shares of the financial services provider’s stock valued at $117,940,000 after buying an additional 359,305 shares during the last quarter. Fairview Capital Investment Management LLC raised its position in shares of LPL Financial by 44.0% in the first quarter. Fairview Capital Investment Management LLC now owns 2,061,553 shares of the financial services provider’s stock valued at $112,210,000 after buying an additional 630,173 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of LPL Financial by 7.1% in the first quarter. APG Asset Management N.V. now owns 1,476,100 shares of the financial services provider’s stock valued at $91,562,000 after buying an additional 98,400 shares during the last quarter. 93.97% of the stock is currently owned by institutional investors and hedge funds.

LPLA opened at $79.02 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.69. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 11.50 and a beta of 1.59. LPL Financial has a 52-week low of $32.01 and a 52-week high of $99.60. The firm’s fifty day simple moving average is $77.51 and its two-hundred day simple moving average is $73.48.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.11. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. LPL Financial had a net margin of 9.06% and a return on equity of 55.32%. On average, research analysts forecast that LPL Financial will post 6.06 EPS for the current year.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

Read More: Cryptocurrencies

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.