LPL Financial Holdings Inc. (LPLA) Short Interest Update
LPL Financial Holdings Inc. (NASDAQ:LPLA) was the recipient of a significant growth in short interest during the month of September. As of September 29th, there was short interest totalling 1,360,792 shares, a growth of 148.9% from the September 15th total of 546,756 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 624,759 shares, the short-interest ratio is currently 2.2 days.
Shares of LPL Financial Holdings (NASDAQ LPLA) opened at 53.04 on Friday. LPL Financial Holdings has a 12 month low of $30.18 and a 12 month high of $53.58. The firm has a 50-day moving average price of $48.95 and a 200-day moving average price of $43.77. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 23.04 and a beta of 1.87.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. LPL Financial Holdings’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. Equities analysts expect that LPL Financial Holdings will post $2.37 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware acquired a new position in shares of LPL Financial Holdings during the 2nd quarter valued at $104,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of LPL Financial Holdings by 1.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 52 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of LPL Financial Holdings by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 211 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of LPL Financial Holdings during the 1st quarter valued at $171,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of LPL Financial Holdings by 10.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,514 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 611 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.
A number of research analysts recently commented on LPLA shares. Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, July 4th. BidaskClub cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $51.00 price objective (up from $48.00) on shares of LPL Financial Holdings in a report on Friday, August 18th. Morgan Stanley reissued an “underweight” rating and issued a $38.00 target price (up previously from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 target price on shares of LPL Financial Holdings in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.60.
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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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