Piper Sandler Companies (NYSE:PIPR) Cut to Hold at StockNews.com

Piper Sandler Companies (NYSE:PIPR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Down 1.6 %

Shares of PIPR opened at $301.10 on Friday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 32.17 and a beta of 1.43. The company’s fifty day moving average is $322.06 and its 200-day moving average is $309.05. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The firm had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PIPR. Tidal Investments LLC increased its position in Piper Sandler Companies by 75.7% in the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock worth $1,732,000 after buying an additional 2,629 shares during the period. Arete Wealth Advisors LLC bought a new position in Piper Sandler Companies during the third quarter worth $310,000. Coldstream Capital Management Inc. raised its stake in Piper Sandler Companies by 2.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 41 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Piper Sandler Companies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after purchasing an additional 7,344 shares during the period. Finally, Vestcor Inc grew its position in Piper Sandler Companies by 23.5% in the 3rd quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 863 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

About Piper Sandler Companies

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.