JMP Group (JMP) Downgraded by Zacks Investment Research to Hold

JMP Group (NYSE:JMP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “JMP GROUP INC. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and alternative asset management products to institutional and high-net-worth investors. JMP Group operates through two subsidiaries, JMP Securities and JMP Asset Management. The company focuses its resources on small and middle-market growth companies and the institutions that invest in them. They approach their work with the idea that expertise, intellectual capital and relationships can never be commoditized. “

Other research analysts have also issued reports about the stock. Barrington Research reiterated a “buy” rating and issued a $8.00 target price on shares of JMP Group in a research report on Tuesday, July 24th. ValuEngine upgraded shares of JMP Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Finally, TheStreet upgraded shares of JMP Group from a “d+” rating to a “c-” rating in a research report on Friday, July 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. JMP Group presently has an average rating of “Hold” and a consensus price target of $6.58.

Shares of NYSE:JMP opened at $5.30 on Thursday. JMP Group has a 52-week low of $4.92 and a 52-week high of $5.78. The firm has a market capitalization of $111.55 million, a P/E ratio of 26.50, a P/E/G ratio of 1.53 and a beta of 0.56. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 10.48.

JMP Group (NYSE:JMP) last announced its earnings results on Wednesday, July 25th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. JMP Group had a negative net margin of 3.67% and a positive return on equity of 7.03%. The company had revenue of $44.26 million during the quarter, compared to analyst estimates of $30.20 million. sell-side analysts predict that JMP Group will post 0.34 EPS for the current year.

A hedge fund recently bought a new stake in JMP Group stock. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of JMP Group LLC (NYSE:JMP) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,015 shares of the financial services provider’s stock, valued at approximately $147,000. Ladenburg Thalmann Financial Services Inc. owned 0.13% of JMP Group as of its most recent SEC filing. 12.51% of the stock is owned by hedge funds and other institutional investors.

About JMP Group

JMP Group LLC, together with its subsidiaries, provides investment banking, sales and trading, equity research, and asset management products and services in the United States. The company operates through three segments: Broker-Dealer, Asset Management, and Corporate. The Broker-Dealer segment offers various services, such as underwriting and acting as a placement agent for public and private capital markets raising transactions; and financial advisory services in mergers and acquisitions, restructuring, and other strategic transactions.

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