Piper Sandler Companies (NYSE:PIPR) Sees Large Drop in Short Interest

Piper Sandler Companies (NYSE:PIPR) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 412,100 shares, a decline of 15.1% from the September 30th total of 485,300 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 114,300 shares, the days-to-cover ratio is presently 3.6 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday.

Piper Sandler Companies Price Performance

NYSE PIPR traded down $3.25 on Wednesday, reaching $285.48. The stock had a trading volume of 64,000 shares, compared to its average volume of 107,255. The firm has a fifty day moving average of $289.71 and a two-hundred day moving average of $274.37. Piper Sandler Companies has a 1-year low of $137.20 and a 1-year high of $306.10. The company has a market cap of $5.05 billion, a P/E ratio of 48.55 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last released 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 analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. Piper Sandler Companies’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. Research analysts predict that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jonathan J. Doyle sold 12,695 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the sale, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total value of $472,944.64. Following the sale, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,276 shares of company stock worth $3,936,252. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after buying an additional 74 shares in the last quarter. nVerses Capital LLC raised its position in shares of 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 acquiring an additional 100 shares during the last quarter. USA Financial Formulas bought a new position in shares of Piper Sandler Companies during the third quarter worth about $77,000. CWM LLC raised its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the last quarter. Finally, FSC Wealth Advisors LLC raised its position in shares of Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares during the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

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.