Macquarie Group Ltd. cut its stake in shares of Piper Jaffray Cos. (NYSE:PJC) by 31.0% during the second quarter, Holdings Channel reports. The institutional investor owned 18,900 shares of the company’s stock after selling 8,500 shares during the period. Macquarie Group Ltd. owned about 0.12% of Piper Jaffray Cos. worth $713,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mason Street Advisors LLC purchased a new position in Piper Jaffray Cos. during the second quarter valued at about $104,000. BlackRock Inc. increased its position in Piper Jaffray Cos. by 295.0% in the second quarter. BlackRock Inc. now owns 4,215 shares of the company’s stock valued at $159,000 after buying an additional 3,148 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Piper Jaffray Cos. by 101.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,491 shares of the company’s stock valued at $169,000 after buying an additional 2,258 shares in the last quarter. Jefferies Group LLC purchased a new position in Piper Jaffray Cos. during the second quarter valued at about $206,000. Finally, Wedge Capital Management L L P NC purchased a new position in Piper Jaffray Cos. during the second quarter valued at about $211,000. 66.44% of the stock is owned by institutional investors.
Shares of Piper Jaffray Cos. (NYSE:PJC) opened at 48.28 on Monday. The firm’s 50-day moving average is $44.86 and its 200-day moving average is $43.32. Piper Jaffray Cos. has a 52-week low of $31.66 and a 52-week high of $50.66. The firm has a market cap of $734.53 million, a P/E ratio of 32.10 and a beta of 1.74.
Piper Jaffray Cos. (NYSE:PJC) last posted its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.35. The business earned $170.50 million during the quarter, compared to analyst estimates of $143.86 million. Piper Jaffray Cos. had a return on equity of 5.74% and a net margin of 2.97%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. Analysts anticipate that Piper Jaffray Cos. will post $0.83 earnings per share for the current year.
Separately, TheStreet raised Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Piper Jaffray Cos. presently has a consensus rating of “Hold” and a consensus target price of $44.00.
In other news, insider Christopher D. Crawshaw sold 5,000 shares of Piper Jaffray Cos. stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $41.88, for a total transaction of $209,400.00. Following the completion of the sale, the insider now owns 51,651 shares in the company, valued at approximately $2,163,143.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher D. Crawshaw sold 21,737 shares of Piper Jaffray Cos. stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $41.45, for a total value of $900,998.65. Following the sale, the insider now owns 56,651 shares of the company’s stock, valued at approximately $2,348,183.95. The disclosure for this sale can be found here. Company insiders own 6.46% of the company’s stock.
About Piper Jaffray Cos.
Piper Jaffray Companies is an investment bank and asset management company, which serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services, including equity and debt capital markets products, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research, and asset management services.
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