Piper Sandler Companies (NYSE:PIPR) Sees Large Growth in Short Interest

Piper Sandler Companies (NYSE:PIPR) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 374,500 shares, a growth of 20.5% from the August 15th total of 310,700 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average daily volume of 137,000 shares, the days-to-cover ratio is currently 2.7 days.

Insider Buying and Selling at Piper Sandler Companies

In related news, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $256.73, for a total value of $459,289.97. Following the transaction, the general counsel now owns 15,065 shares in the company, valued at approximately $3,867,637.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total value of $459,289.97. Following the transaction, the general counsel now directly owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the insider now directly owns 160,095 shares of the company’s stock, valued at approximately $37,883,279.85. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock valued at $3,936,252 in the last quarter. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Piper Sandler Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 74 shares during the last quarter. Parallel Advisors LLC boosted its position in Piper Sandler Companies by 62.1% during the fourth quarter. Parallel Advisors LLC now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 64 shares during the last quarter. nVerses Capital LLC boosted its position in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares during the last quarter. Mather Group LLC. acquired a new stake in Piper Sandler Companies during the 1st quarter worth about $64,000. Finally, FSC Wealth Advisors LLC raised its position in shares of Piper Sandler Companies by 39.0% in the 2nd quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 97 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Trading Up 2.5 %

NYSE PIPR traded up $6.57 on Friday, hitting $267.64. 77,800 shares of the company’s stock were exchanged, compared to its average volume of 108,358. Piper Sandler Companies has a 52 week low of $130.89 and a 52 week high of $280.45. The stock has a 50-day moving average of $264.85 and a 200-day moving average of $247.15. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 45.52 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The company had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. Piper Sandler Companies’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. As a group, analysts predict that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is 44.22%.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, June 11th.

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.