Piper Jaffray Cos. (PJC) Sees Strong Trading Volume
Piper Jaffray Cos. (NYSE:PJC) saw an uptick in trading volume on Friday . 168,857 shares were traded during mid-day trading, an increase of 91% from the previous session’s volume of 88,513 shares.The stock last traded at $43.07 and had previously closed at $43.59.
Separately, TheStreet raised shares of Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Piper Jaffray Cos. presently has an average rating of “Hold” and an average target price of $43.80.
The stock has a market cap of $655.27 million and a PE ratio of 28.64. The stock has a 50 day moving average of $41.76 and a 200-day moving average of $42.53.
Piper Jaffray Cos. (NYSE:PJC) last announced its quarterly earnings data 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 had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $143.86 million. During the same period in the previous year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that Piper Jaffray Cos. will post $3.58 earnings per share for the current fiscal year.
In related news, insider Christopher D. Crawshaw sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $41.88, for a total transaction of $209,400.00. Following the transaction, the insider now directly owns 51,651 shares of the company’s stock, valued at $2,163,143.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Gregory Smith sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $41.42, for a total transaction of $103,550.00. Following the transaction, the insider now directly owns 13,751 shares in the company, valued at $569,566.42. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Piper Jaffray Cos. stock. Rhumbline Advisers increased its position in shares of Piper Jaffray Cos. (NYSE:PJC) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,951 shares of the company’s stock after buying an additional 465 shares during the period. Rhumbline Advisers owned about 0.18% of Piper Jaffray Cos. worth $1,129,000 as of its most recent SEC filing.
Piper Jaffray Companies is an investment bank and asset management firm serving 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, public finance services, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research and asset management services.
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