Crossmark Global Holdings Inc. Cuts Stake in Piper Sandler Companies (NYSE:PIPR)

Crossmark Global Holdings Inc. decreased its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,349 shares of the financial services provider’s stock after selling 199 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Piper Sandler Companies were worth $405,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC raised its stake in shares of Piper Sandler Companies by 46.9% in the fourth quarter. Park Avenue Securities LLC now owns 3,103 shares of the financial services provider’s stock valued at $931,000 after acquiring an additional 990 shares in the last quarter. West Oak Capital LLC boosted its holdings in Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,300 shares in the last quarter. Oliver Luxxe Assets LLC grew its holdings in Piper Sandler Companies by 5.7% in the fourth quarter. Oliver Luxxe Assets LLC now owns 11,838 shares of the financial services provider’s stock valued at $3,551,000 after purchasing an additional 636 shares during the last quarter. Modus Advisors LLC purchased a new position in Piper Sandler Companies during the fourth quarter worth $404,000. Finally, GAMMA Investing LLC boosted its position in Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR opened at $306.40 on Monday. The firm has a market cap of $5.45 billion, a PE ratio of 32.73 and a beta of 1.46. The stock has a 50 day simple moving average of $299.86. Piper Sandler Companies has a 12-month low of $171.70 and a 12-month high of $351.80.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PIPR. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective on the stock. in a research report on Monday, January 6th.

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.