Piper Sandler Companies (NYSE:PIPR) Sees Significant Drop in Short Interest

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 250,700 shares, a decrease of 39.2% from the October 15th total of 412,100 shares. Currently, 1.5% of the company's shares are sold short. Based on an average daily volume of 104,500 shares, the short-interest ratio is currently 2.4 days.

Analyst Ratings Changes

PIPR has been the subject of a number of recent research reports. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Trading Up 1.4 %

NYSE PIPR traded up $4.72 during midday trading on Friday, hitting $336.11. The company had a trading volume of 82,800 shares, compared to its average volume of 108,663. The company has a market capitalization of $5.98 billion, a PE ratio of 35.91 and a beta of 1.39. The firm has a 50-day moving average price of $306.39 and a 200-day moving average price of $284.28. Piper Sandler Companies has a twelve month low of $150.30 and a twelve month high of $347.15.

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

Piper Sandler Companies Dividend Announcement

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

Insider Buying and Selling at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 8.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Piper Sandler Companies

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

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.