Piper Sandler Companies (NYSE:PIPR) Rating Lowered to Hold at StockNews.com

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Monday.

Separately, JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

NYSE:PIPR traded up $8.79 on Monday, reaching $289.32. The stock had a trading volume of 171,000 shares, compared to its average volume of 107,442. Piper Sandler Companies has a 12-month low of $134.82 and a 12-month high of $306.10. The firm's fifty day moving average is $289.55 and its two-hundred day moving average is $273.85. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 49.20 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.26. The business had revenue of $357.00 million for the quarter, compared to analysts' expectations of $338.90 million. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. The business's revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. As a group, research analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current fiscal year.

Insider Transactions at Piper Sandler Companies

In related news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction 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 owns 160,095 shares in the company, valued at approximately $37,883,279.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Philip Soran sold 1,792 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the transaction, the director now owns 18,341 shares of the company's stock, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares in the company, valued at $37,883,279.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 in the last ninety days. Insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of Piper Sandler Companies by 194.7% in the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock valued at $26,000 after buying an additional 74 shares in the last quarter. nVerses Capital LLC grew its stake in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies in the third quarter worth $77,000. FSC Wealth Advisors LLC boosted its stake in Piper Sandler Companies by 39.0% during the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider's stock valued at $80,000 after acquiring an additional 97 shares during the last quarter. Finally, CWM LLC increased its position in shares of Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after purchasing an additional 57 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other 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.

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