Piper Sandler Companies (NYSE:PIPR) Short Interest Update

Piper Sandler Companies (NYSE:PIPR) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 250,700 shares, a decrease of 39.2% from the October 15th total of 412,100 shares. Based on an average daily volume of 104,500 shares, the short-interest ratio is presently 2.4 days. Approximately 1.5% of the company’s stock are short sold.

Piper Sandler Companies Stock Performance

Shares of PIPR stock traded up $4.72 during trading hours on Friday, hitting $336.11. 82,800 shares of the company were exchanged, compared to its average volume of 108,663. Piper Sandler Companies has a one year low of $150.30 and a one year high of $347.15. The business’s 50-day simple moving average is $306.39 and its two-hundred day simple moving average is $284.28. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 35.91 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The business had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. As a group, analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.77%. Piper Sandler Companies’s payout ratio is 27.78%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Insider Activity at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares in the company, valued at $4,840,556.72. This trade represents a 8.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Several large investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after acquiring an additional 205,584 shares during the last quarter. Fred Alger Management LLC bought a new position in Piper Sandler Companies in the third quarter worth about $14,645,000. Mesirow Institutional Investment Management Inc. bought a new position in Piper Sandler Companies in the second quarter worth about $10,139,000. Millennium Management LLC lifted its holdings in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after acquiring an additional 30,942 shares during the last quarter. Finally, Nicholas Investment Partners LP bought a new position in Piper Sandler Companies in the second quarter worth about $5,950,000. Institutional investors own 72.79% of the company’s stock.

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.