Piper Sandler Companies (NYSE:PIPR) Sees Significant Growth in Short Interest

Piper Sandler Companies (NYSE:PIPR) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 374,500 shares, a growth of 20.5% from the August 15th total of 310,700 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily volume of 137,000 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Price Performance

Shares of PIPR traded up $6.57 during midday trading on Friday, reaching $267.64. The stock had a trading volume of 77,800 shares, compared to its average volume of 108,358. Piper Sandler Companies has a 52 week low of $130.89 and a 52 week high of $280.45. The firm’s 50 day moving average price is $264.85 and its 200-day moving average price is $247.15. The company has a market capitalization of $4.74 billion, a P/E ratio of 45.52 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.26. The business had revenue of $357.00 million during the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. Piper Sandler Companies’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 EPS. On average, equities analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.97%. Piper Sandler Companies’s dividend payout ratio is presently 44.22%.

Insider Activity

In other Piper Sandler Companies 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 value of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Piper Sandler Companies

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Piper Sandler Companies by 62.1% in the 4th quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 64 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Piper Sandler Companies in the first quarter valued at about $64,000. Finally, FSC Wealth Advisors LLC boosted its position in 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 valued at $80,000 after purchasing an additional 97 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.