Piper Sandler Companies (NYSE:PIPR) Short Interest Update

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 250,700 shares, a decline of 39.2% from the October 15th total of 412,100 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 104,500 shares, the days-to-cover ratio is presently 2.4 days.

Piper Sandler Companies Stock Up 1.4 %

Shares of PIPR stock traded up $4.72 during trading hours on Friday, reaching $336.11. The company's stock had a trading volume of 82,800 shares, compared to its average volume of 108,663. Piper Sandler Companies has a fifty-two week low of $150.30 and a fifty-two week high of $347.15. The firm's 50 day simple moving average is $306.39 and its 200-day simple moving average is $284.69. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 35.91 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Sell-side analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is 27.78%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 28th.

Insider Buying and Selling

In other news, Director Philip Soran sold 1,792 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 8.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by insiders.

Institutional Trading of Piper Sandler Companies

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Piper Sandler Companies by 49.0% during the third quarter. FMR LLC now owns 625,048 shares of the financial services provider's stock worth $177,395,000 after purchasing an additional 205,584 shares during the last quarter. Fred Alger Management LLC acquired a new position in Piper Sandler Companies in the 3rd quarter valued at approximately $14,645,000. Mesirow Institutional Investment Management Inc. bought a new position in shares of Piper Sandler Companies during the second quarter valued at $10,139,000. Millennium Management LLC lifted its holdings in shares of Piper Sandler Companies by 66.0% during the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider's stock worth $17,908,000 after purchasing an additional 30,942 shares during the period. Finally, Nicholas Investment Partners LP acquired a new position in shares of Piper Sandler Companies during the second quarter worth $5,950,000. Institutional investors and hedge funds own 72.79% of the company's stock.

About Piper Sandler Companies

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.