LPL Financial Holdings Inc (LPLA) Short Interest Down 46.5% in August
LPL Financial Holdings Inc (NASDAQ:LPLA) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 468,377 shares, a decline of 46.5% from the August 15th total of 875,385 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 759,079 shares, the days-to-cover ratio is currently 0.6 days.
Shares of LPL Financial Holdings (NASDAQ:LPLA) opened at 46.87 on Friday. The stock has a 50 day moving average of $46.11 and a 200-day moving average of $42.21. LPL Financial Holdings has a 12 month low of $28.38 and a 12 month high of $48.56. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 20.36 and a beta of 1.84.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 6.42% and a return on equity of 31.13%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.53 EPS. LPL Financial Holdings’s revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that LPL Financial Holdings will post $2.40 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.13%. The ex-dividend date was Tuesday, August 8th. LPL Financial Holdings’s payout ratio is currently 43.48%.
A number of research analysts have weighed in on LPLA shares. Zacks Investment Research raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 4th. BidaskClub lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $38.00 price target (up previously from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $51.00 price target (up previously from $48.00) on shares of LPL Financial Holdings in a research note on Friday, August 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 price target on shares of LPL Financial Holdings in a research note on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. LPL Financial Holdings presently has a consensus rating of “Buy” and a consensus price target of $48.20.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new position in LPL Financial Holdings during the 2nd quarter valued at $399,202,000. Janus Capital Management LLC lifted its stake in LPL Financial Holdings by 13.1% during the 1st quarter. Janus Capital Management LLC now owns 8,996,531 shares of the financial services provider’s stock valued at $358,332,000 after acquiring an additional 1,038,731 shares in the last quarter. Vanguard Group Inc. lifted its stake in LPL Financial Holdings by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock valued at $372,778,000 after acquiring an additional 827,372 shares in the last quarter. BlackRock Inc. lifted its stake in LPL Financial Holdings by 1.3% during the 2nd quarter. BlackRock Inc. now owns 3,558,615 shares of the financial services provider’s stock valued at $151,098,000 after acquiring an additional 46,013 shares in the last quarter. Finally, Samlyn Capital LLC lifted its stake in LPL Financial Holdings by 55.6% during the 2nd quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock valued at $62,860,000 after acquiring an additional 528,780 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.
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LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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