Piper Jaffray Cos. (PJC) Sees Strong Trading Volume
Shares of Piper Jaffray Cos. (NYSE:PJC) saw unusually-high trading volume on Tuesday . Approximately 242,345 shares were traded during trading, an increase of 100% from the previous session’s volume of 120,997 shares.The stock last traded at $47.54 and had previously closed at $46.83.
Separately, TheStreet cut Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Piper Jaffray Cos. has a consensus rating of “Hold” and an average price target of $43.80.
The company has a market cap of $722.36 million, a price-to-earnings ratio of 31.57 and a beta of 1.74. The company’s 50 day moving average is $44.09 and its 200 day moving average is $43.21.
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Piper Jaffray Cos. (NYSE:PJC) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.35. The business had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $143.86 million. Piper Jaffray Cos. had a return on equity of 5.74% and a net margin of 2.97%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 EPS. On average, equities analysts predict that Piper Jaffray Cos. will post $0.83 EPS for the current fiscal year.
In other Piper Jaffray Cos. news, insider Thomas Gregory Smith sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $41.42, for a total value of $103,550.00. Following the sale, the insider now owns 13,751 shares of the company’s stock, valued at approximately $569,566.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher D. Crawshaw sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $41.88, for a total value of $209,400.00. Following the completion of the sale, the insider now directly owns 51,651 shares in the company, valued at approximately $2,163,143.88. The disclosure for this sale can be found here. Corporate insiders own 6.46% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors boosted its stake in Piper Jaffray Cos. by 4.7% in the second quarter. BlackRock Fund Advisors now owns 982,803 shares of the company’s stock valued at $37,052,000 after buying an additional 43,716 shares during the last quarter. Prudential Financial Inc. boosted its stake in Piper Jaffray Cos. by 16.0% in the first quarter. Prudential Financial Inc. now owns 620,579 shares of the company’s stock valued at $30,756,000 after buying an additional 85,472 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Piper Jaffray Cos. by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 583,180 shares of the company’s stock valued at $21,986,000 after buying an additional 18,808 shares during the last quarter. State Street Corp boosted its stake in Piper Jaffray Cos. by 3.2% in the second quarter. State Street Corp now owns 370,798 shares of the company’s stock valued at $13,982,000 after buying an additional 11,407 shares during the last quarter. Finally, Norges Bank acquired a new stake in Piper Jaffray Cos. during the fourth quarter valued at $7,955,000. 66.44% of the stock is currently owned by hedge funds and other institutional investors.
About Piper Jaffray Cos.
Piper Jaffray Companies is an investment bank and asset management company, which serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services, including equity and debt capital markets products, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research, and asset management services.
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