Piper Sandler Companies (NYSE:PIPR) Short Interest Update

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

Insider Activity at Piper Sandler Companies

In other news, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction dated Wednesday, August 21st. The stock was 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 of the company’s stock, 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 SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds have recently added to or reduced their stakes in PIPR. SG Americas Securities LLC bought a new stake in Piper Sandler Companies in the first quarter worth approximately $238,000. Sei Investments Co. increased its holdings in shares of Piper Sandler Companies by 68.1% during the first quarter. Sei Investments Co. now owns 22,204 shares of the financial services provider’s stock valued at $4,408,000 after acquiring an additional 8,994 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Piper Sandler Companies by 1,473.3% during the first quarter. Russell Investments Group Ltd. now owns 1,416 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 1,326 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Piper Sandler Companies by 7.6% during the first quarter. ProShare Advisors LLC now owns 3,451 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 245 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Piper Sandler Companies by 16.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 55,346 shares of the financial services provider’s stock valued at $10,985,000 after acquiring an additional 7,916 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PIPR has been the topic of a number of recent research reports. StockNews.com lowered 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 note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

Shares of Piper Sandler Companies stock traded up $4.72 during midday trading on Friday, reaching $336.11. The company had a trading volume of 82,800 shares, compared to its average volume of 108,663. The stock has a fifty day moving average price of $306.39 and a 200 day moving average price of $284.28. The firm has a market cap of $5.98 billion, a PE ratio of 35.91 and a beta of 1.39. Piper Sandler Companies has a fifty-two week low of $150.30 and a fifty-two week high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company 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%. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.77%. Piper Sandler Companies’s payout ratio is currently 27.78%.

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.