Burney Co. Cuts Position in Piper Sandler Companies (NYSE:PIPR)

Burney Co. reduced its stake in Piper Sandler Companies (NYSE:PIPR) by 50.9% during the first quarter, HoldingsChannel.com reports. The firm owned 2,971 shares of the financial services provider’s stock after selling 3,078 shares during the quarter. Burney Co.’s holdings in Piper Sandler Companies were worth $590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PIPR. GAMMA Investing LLC purchased a new position in Piper Sandler Companies during the fourth quarter valued at $29,000. Parallel Advisors LLC grew its position in Piper Sandler Companies by 62.1% during the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 64 shares during the last quarter. Mather Group LLC. bought a new stake in Piper Sandler Companies during the 1st quarter valued at about $64,000. Quadrant Capital Group LLC lifted its stake in shares of Piper Sandler Companies by 21.1% in the fourth quarter. Quadrant Capital Group LLC now owns 460 shares of the financial services provider’s stock worth $80,000 after buying an additional 80 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Piper Sandler Companies during the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Insider Buying and Selling at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 1,022 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $213.27, for a total value of $217,961.94. Following the transaction, the president now owns 43,083 shares in the company, valued at approximately $9,188,311.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 3,978 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $212.29, for a total value of $844,489.62. Following the completion of the sale, the president now owns 44,105 shares in the company, valued at $9,363,050.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Debbra L. Schoneman sold 1,022 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $213.27, for a total value of $217,961.94. Following the completion of the transaction, the president now directly owns 43,083 shares in the company, valued at approximately $9,188,311.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,570 shares of company stock valued at $1,393,941. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, June 11th.

Piper Sandler Companies Stock Down 6.7 %

Shares of NYSE PIPR traded down $17.57 during trading on Friday, reaching $244.54. 320,900 shares of the company traded hands, compared to its average volume of 169,562. The firm has a 50 day simple moving average of $251.60 and a 200-day simple moving average of $224.33. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $280.45. The stock has a market capitalization of $4.33 billion, a PE ratio of 41.59 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. As a group, research analysts predict that Piper Sandler Companies will post 11.82 EPS for the current year.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.