Piper Sandler Companies (NYSE:PIPR) Short Interest Update

Piper Sandler Companies (NYSE:PIPR) saw a large decrease in short interest during the month of 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 short sold. Based on an average trading volume of 104,500 shares, the days-to-cover ratio is currently 2.4 days.

Insider Activity

In related 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 completion of the sale, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This represents a 8.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PIPR. Blue Trust Inc. increased its position 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 worth $26,000 after purchasing an additional 74 shares during the period. nVerses Capital LLC boosted its stake in Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas acquired a new stake in Piper Sandler Companies in the third quarter valued at about $77,000. CWM LLC boosted its stake 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 buying an additional 57 shares in the last quarter. Finally, FSC Wealth Advisors LLC boosted its stake in Piper Sandler Companies by 39.0% in the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $80,000 after buying an additional 97 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Up 1.4 %

Shares of NYSE PIPR traded up $4.72 during trading hours on Friday, hitting $336.11. The company had a trading volume of 82,800 shares, compared to its average volume of 108,663. The stock has a market capitalization of $5.98 billion, a P/E ratio of 35.91 and a beta of 1.39. Piper Sandler Companies has a 1-year low of $150.30 and a 1-year high of $347.15. The firm’s 50 day moving average is $306.39 and its 200-day moving average is $284.28.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 0.77%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PIPR shares. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

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.