Short Interest in LPL Financial Holdings Decreases By 46.2% (LPLA)
LPL Financial Holdings (NASDAQ:LPLA) was the recipient of a large decline in short interest during the month of May. As of May 30th, there was short interest totalling 1,402,167 shares, a decline of 46.2% from the May 15th total of 2,604,639 shares, AnalystRatingsNetwork.com reports. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 650,370 shares, the days-to-cover ratio is currently 2.2 days.
A number of analysts have recently weighed in on LPLA shares. Analysts at Zacks downgraded shares of LPL Financial Holdings from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 10th. They now have a $48.20 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of LPL Financial Holdings in a research note on Thursday, April 24th. They now have a $57.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of LPL Financial Holdings in a research note on Wednesday, April 9th. They now have a $60.00 price target on the stock, down previously from $63.00. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $52.39.
LPL Financial Holdings (NASDAQ:LPLA) opened at 50.46 on Wednesday. LPL Financial Holdings has a 1-year low of $36.42 and a 1-year high of $56.45. The stock has a 50-day moving average of $47.80 and a 200-day moving average of $49.76. The company has a market cap of $5.072 billion and a P/E ratio of 28.49.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.03. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts predict that LPL Financial Holdings will post $2.59 earnings per share for the current fiscal year.
LPL Financial Holdings Inc, formerly LPL Investment Holdings Inc, is a holding company. The Company provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions (NASDAQ:LPLA) in the United States of America.
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