Short Interest in Piper Jaffray Companies (NYSE:PJC) Decreases By 12.3%

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Piper Jaffray Companies (NYSE:PJC) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 565,900 shares, a decline of 12.3% from the July 31st total of 645,600 shares. Currently, 4.2% of the company’s shares are short sold. Based on an average daily trading volume, of 95,800 shares, the days-to-cover ratio is currently 5.9 days.

PJC traded up $0.85 during trading on Thursday, reaching $78.39. The company had a trading volume of 1,375 shares, compared to its average volume of 82,780. The stock has a market cap of $1.07 billion, a P/E ratio of 12.79 and a beta of 1.37. The business has a 50 day simple moving average of $73.48 and a 200-day simple moving average of $74.23. Piper Jaffray Companies has a 52 week low of $61.35 and a 52 week high of $82.52.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. Piper Jaffray Companies had a return on equity of 12.54% and a net margin of 7.80%. The company had revenue of $172.42 million during the quarter, compared to the consensus estimate of $155.26 million. During the same period last year, the company earned $0.92 earnings per share. On average, equities research analysts expect that Piper Jaffray Companies will post 6.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.50 annualized dividend and a yield of 1.91%. Piper Jaffray Companies’s dividend payout ratio (DPR) is presently 24.47%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Piper Jaffray Companies by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 609,405 shares of the financial services provider’s stock worth $40,124,000 after purchasing an additional 11,613 shares during the last quarter. Invesco Ltd. increased its position in Piper Jaffray Companies by 56.8% during the second quarter. Invesco Ltd. now owns 500,774 shares of the financial services provider’s stock worth $37,191,000 after buying an additional 181,489 shares during the last quarter. Nuveen Asset Management LLC increased its position in Piper Jaffray Companies by 5.4% during the second quarter. Nuveen Asset Management LLC now owns 476,426 shares of the financial services provider’s stock worth $35,385,000 after buying an additional 24,525 shares during the last quarter. Victory Capital Management Inc. increased its position in Piper Jaffray Companies by 1.5% during the first quarter. Victory Capital Management Inc. now owns 295,508 shares of the financial services provider’s stock worth $21,522,000 after buying an additional 4,238 shares during the last quarter. Finally, Northern Trust Corp increased its position in Piper Jaffray Companies by 1.5% during the second quarter. Northern Trust Corp now owns 200,391 shares of the financial services provider’s stock worth $14,884,000 after buying an additional 2,903 shares during the last quarter. Institutional investors own 78.11% of the company’s stock.

Several research analysts recently commented on PJC shares. Zacks Investment Research downgraded shares of Piper Jaffray Companies from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Northland Securities reaffirmed a “buy” rating and issued a $89.00 target price on shares of Piper Jaffray Companies in a research note on Friday, July 26th.

About Piper Jaffray Companies

Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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