Zacks Investment Research Downgrades JMP Group (JMP) to Hold

JMP Group (NYSE:JMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “JMP GROUP INC. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and alternative asset management products to institutional and high-net-worth investors. JMP Group operates through two subsidiaries, JMP Securities and JMP Asset Management. The company focuses its resources on small and middle-market growth companies and the institutions that invest in them. They approach their work with the idea that expertise, intellectual capital and relationships can never be commoditized. “

Separately, Keefe, Bruyette & Woods assumed coverage on JMP Group in a report on Monday, October 16th. They set a “mkt perform” rating and a $5.75 target price on the stock.

JMP Group (NYSE:JMP) traded up $0.08 during midday trading on Friday, hitting $5.38. The company had a trading volume of 29,386 shares, compared to its average volume of 38,544. The company has a debt-to-equity ratio of 7.31, a quick ratio of 3.25 and a current ratio of 3.25. JMP Group has a 12 month low of $5.20 and a 12 month high of $7.70. The firm has a market cap of $114.52, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 1.05 and a beta of 0.80.

JMP Group (NYSE:JMP) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The firm had revenue of $32.03 million for the quarter, compared to the consensus estimate of $29.90 million. JMP Group had a positive return on equity of 2.90% and a negative net margin of 11.87%. equities research analysts anticipate that JMP Group will post 0.5 EPS for the current year.

In related news, Director Thomas Rowe Wright bought 12,500 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were purchased at an average cost of $5.33 per share, with a total value of $66,625.00. Following the acquisition, the director now owns 363,636 shares of the company’s stock, valued at $1,938,179.88. The purchase was disclosed in a filing with the SEC, which is available through this link. 52.11% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of JMP Group by 25.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,275 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 6,686 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of JMP Group by 149.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 48,695 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 29,158 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of JMP Group by 141.6% in the 4th quarter. Renaissance Technologies LLC now owns 56,375 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 33,042 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of JMP Group in the 4th quarter worth about $359,000. Finally, GSA Capital Partners LLP raised its position in shares of JMP Group by 21.8% in the 2nd quarter. GSA Capital Partners LLP now owns 88,919 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 15,916 shares in the last quarter. 12.99% of the stock is owned by hedge funds and other institutional investors.

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JMP Group Company Profile

JMP Group LLC, formerly JMP Group, Inc, is a full-service investment banking and asset management firm. The Company operates in five segments: Broker-Dealer, Asset Management, Corporate Credit, Investment Income and Corporate Costs. The Broker-Dealer segment includes a range of services, such as underwriting and acting as a placement agent for public and private capital markets raising transactions and financial advisory services in mergers and acquisitions, restructuring and other strategic transactions.

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