Piper Jaffray Companies (NYSE:PJC) Short Interest Update

Piper Jaffray Companies (NYSE:PJC) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 390,700 shares, an increase of 59.7% from the April 30th total of 244,600 shares. Based on an average daily volume of 85,200 shares, the short-interest ratio is presently 4.6 days. Approximately 2.8% of the shares of the company are short sold.

NYSE:PJC traded up $0.16 during trading hours on Monday, hitting $73.59. 3,647 shares of the company were exchanged, compared to its average volume of 70,540. The stock has a market cap of $1.04 billion, a PE ratio of 11.98 and a beta of 1.41. Piper Jaffray Companies has a 52-week low of $61.35 and a 52-week high of $82.52. The company’s 50 day moving average is $76.51.

Piper Jaffray Companies (NYSE:PJC) last released its earnings results on Friday, April 26th. The financial services provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.37. The company had revenue of $191.83 million for the quarter, compared to the consensus estimate of $174.65 million. Piper Jaffray Companies had a net margin of 7.16% and a return on equity of 11.62%. On average, research analysts forecast that Piper Jaffray Companies will post 6.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, May 23rd. Piper Jaffray Companies’s dividend payout ratio is presently 24.47%.

A number of large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its stake in Piper Jaffray Companies by 0.8% during the first quarter. Nordea Investment Management AB now owns 61,708 shares of the financial services provider’s stock worth $4,494,000 after buying an additional 463 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Piper Jaffray Companies during the first quarter worth about $679,000. Piedmont Investment Advisors Inc. boosted its stake in Piper Jaffray Companies by 4.8% during the first quarter. Piedmont Investment Advisors Inc. now owns 3,687 shares of the financial services provider’s stock worth $269,000 after buying an additional 168 shares during the period. New York State Common Retirement Fund boosted its stake in Piper Jaffray Companies by 0.6% during the first quarter. New York State Common Retirement Fund now owns 21,150 shares of the financial services provider’s stock worth $1,540,000 after buying an additional 136 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in Piper Jaffray Companies by 1.8% during the first quarter. New York State Teachers Retirement System now owns 45,135 shares of the financial services provider’s stock worth $3,287,000 after buying an additional 800 shares during the period. 75.89% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Piper Jaffray Companies from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, May 22nd. TheStreet raised shares of Piper Jaffray Companies from a “c” rating to a “b” rating in a research report on Wednesday, March 13th. Finally, ValuEngine raised shares of Piper Jaffray Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 1st.

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About Piper Jaffray Companies

Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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