Piper Sandler Companies (NYSE:PIPR) Short Interest Down 39.2% in October

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

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $336.11 on Friday. 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 has a 52-week low of $150.30 and a 52-week high of $347.15. The stock’s 50 day moving average price is $306.39 and its two-hundred day moving average price is $284.28.

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

Piper Sandler Companies Dividend Announcement

The company also recently announced 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

Insider Buying and Selling at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. The trade was a 8.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Piper Sandler Companies by 194.7% during the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. nVerses Capital LLC grew its holdings in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas purchased a new stake in Piper Sandler Companies in the 3rd quarter valued at $77,000. FSC Wealth Advisors LLC raised its position in Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after buying an additional 97 shares during the last quarter. Finally, CWM LLC lifted its stake in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Company Profile

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.