BNP Paribas Arbitrage SA Sells 2,235 Shares of Piper Jaffray Cos. (PJC)
BNP Paribas Arbitrage SA lowered its stake in shares of Piper Jaffray Cos. (NYSE:PJC) by 49.8% during the third quarter, Holdings Channel reports. The institutional investor owned 2,256 shares of the company’s stock after selling 2,235 shares during the period. BNP Paribas Arbitrage SA’s holdings in Piper Jaffray Cos. were worth $109,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in PJC. Mason Street Advisors LLC bought a new stake in shares of Piper Jaffray Cos. during the second quarter valued at about $104,000. BlackRock Inc. increased its stake in shares of Piper Jaffray Cos. by 295.0% in the second quarter. BlackRock Inc. now owns 4,215 shares of the company’s stock valued at $159,000 after buying an additional 3,148 shares during the period. Jefferies Group LLC bought a new stake in shares of Piper Jaffray Cos. during the second quarter valued at about $206,000. Wedge Capital Management L L P NC bought a new stake in shares of Piper Jaffray Cos. during the second quarter valued at about $211,000. Finally, Eqis Capital Management Inc. increased its stake in shares of Piper Jaffray Cos. by 10.6% in the second quarter. Eqis Capital Management Inc. now owns 5,989 shares of the company’s stock valued at $226,000 after buying an additional 572 shares during the period. Hedge funds and other institutional investors own 66.45% of the company’s stock.
Piper Jaffray Cos. (NYSE:PJC) opened at 50.51 on Friday. The stock has a market cap of $768.46 million, a PE ratio of 33.58 and a beta of 1.56. Piper Jaffray Cos. has a 52-week low of $31.66 and a 52-week high of $51.34. The firm has a 50-day moving average price of $47.19 and a 200 day moving average price of $43.62.
Piper Jaffray Cos. (NYSE:PJC) last released its earnings results on Thursday, July 28th. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.35. The company earned $170.50 million during the quarter, compared to analysts’ expectations of $143.86 million. Piper Jaffray Cos. had a return on equity of 5.74% and a net margin of 2.97%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. On average, analysts forecast that Piper Jaffray Cos. will post $0.81 earnings per share for the current fiscal year.
Separately, TheStreet raised Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $45.00.
In other news, insider Christopher D. Crawshaw sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $41.88, for a total value of $209,400.00. Following the completion of the transaction, the insider now owns 51,651 shares in the company, valued at approximately $2,163,143.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher D. Crawshaw sold 21,737 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $41.45, for a total value of $900,998.65. Following the completion of the transaction, the insider now owns 56,651 shares of the company’s stock, valued at approximately $2,348,183.95. The disclosure for this sale can be found here. 6.46% of the stock is owned by insiders.
About Piper Jaffray Cos.
Piper Jaffray Companies is an investment bank and asset management company, which serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services, including equity and debt capital markets products, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research, and asset management services.
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