Convergence Investment Partners LLC boosted its position in Piper Jaffray Cos. (NYSE:PJC) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 25,262 shares of the company’s stock after buying an additional 230 shares during the period. Convergence Investment Partners LLC owned about 0.20% of Piper Jaffray Cos. worth $952,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in shares of Piper Jaffray Cos. by 101.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,491 shares of the company’s stock worth $169,000 after buying an additional 2,258 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Piper Jaffray Cos. by 1,502.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,695 shares of the company’s stock valued at $233,000 after buying an additional 4,402 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Piper Jaffray Cos. by 10.6% in the second quarter. Eqis Capital Management Inc. now owns 5,989 shares of the company’s stock valued at $226,000 after buying an additional 572 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Piper Jaffray Cos. during the first quarter valued at approximately $307,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Piper Jaffray Cos. during the second quarter valued at approximately $354,000. 66.44% of the stock is currently owned by institutional investors and hedge funds.
Piper Jaffray Cos. (NYSE:PJC) opened at 46.33 on Monday. The company’s 50-day moving average is $43.61 and its 200-day moving average is $43.15. The stock has a market capitalization of $704.86 million, a PE ratio of 30.80 and a beta of 1.74. Piper Jaffray Cos. has a 12 month low of $31.66 and a 12 month high of $50.66.
Piper Jaffray Cos. (NYSE:PJC) last issued its earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.35. Piper Jaffray Cos. had a net margin of 2.97% and a return on equity of 5.74%. The company had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $143.86 million. During the same period in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that Piper Jaffray Cos. will post $0.83 EPS for the current year.
Separately, TheStreet raised shares of Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $43.80.
In other Piper Jaffray Cos. news, insider Christopher D. Crawshaw sold 21,737 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $41.45, for a total transaction of $900,998.65. Following the transaction, the insider now directly owns 56,651 shares in the company, valued at approximately $2,348,183.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Gregory Smith sold 2,500 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $41.42, for a total transaction of $103,550.00. Following the transaction, the insider now owns 13,751 shares in the company, valued at $569,566.42. The disclosure for this sale can be found here. Company insiders own 6.46% of the company’s stock.
Piper Jaffray Cos. Company Profile
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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