StockNews.com Initiates Coverage on Siebert Financial (NASDAQ:SIEB)

Research analysts at StockNews.com assumed coverage on shares of Siebert Financial (NASDAQ:SIEB) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

Siebert Financial Trading Up 5.9 %

NASDAQ:SIEB opened at $2.17 on Monday. Siebert Financial has a 1-year low of $1.46 and a 1-year high of $3.05. The business’s 50-day moving average price is $1.85 and its two-hundred day moving average price is $1.80. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $85.89 million, a price-to-earnings ratio of 13.56 and a beta of 0.33.

Institutional Investors Weigh In On Siebert Financial

A number of hedge funds have recently modified their holdings of the business. Northern Trust Corp raised its position in shares of Siebert Financial by 17.9% during the second quarter. Northern Trust Corp now owns 40,001 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 6,083 shares during the period. Millennium Management LLC acquired a new stake in shares of Siebert Financial during the fourth quarter worth about $34,000. Finally, Vanguard Group Inc. raised its position in shares of Siebert Financial by 6.5% during the first quarter. Vanguard Group Inc. now owns 137,978 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 8,413 shares during the period. Institutional investors and hedge funds own 1.52% of the company’s stock.

About Siebert Financial

Siebert Financial Corp., through its subsidiaries, engages in the retail discount brokerage and investment advisory businesses in the United States and Internationally. It offers discount brokerage services, including self-directed trading, wealth management, financial advice, market making and fixed income investment, stock borrow, equity compensation plans, securities lending, equity stock plan, and market making services; independent retail execution services; and retail customer services.