LPL Financial Holdings Inc (NASDAQ:LPLA) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,203,139 shares, a growth of 57.4% from the November 30th total of 764,613 shares. Based on an average daily volume of 718,795 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.3% of the shares of the company are sold short.
LPL Financial (LPLA) opened at $58.78 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $5,300.00, a price-to-earnings ratio of 24.91, a P/E/G ratio of 1.41 and a beta of 1.88. LPL Financial has a 12 month low of $36.43 and a 12 month high of $59.84.
LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. LPL Financial’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. research analysts predict that LPL Financial will post 2.31 EPS for the current fiscal year.
In other LPL Financial news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado raised its stake in LPL Financial by 1.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 52 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in LPL Financial by 0.4% during the second quarter. Hanseatic Management Services Inc. now owns 19,602 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 83 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 211 shares in the last quarter. State of Wisconsin Investment Board raised its stake in LPL Financial by 2.9% during the second quarter. State of Wisconsin Investment Board now owns 17,588 shares of the financial services provider’s stock worth $747,000 after acquiring an additional 490 shares in the last quarter. Finally, Utah Retirement Systems grew its holdings in shares of LPL Financial by 3.2% during the second quarter. Utah Retirement Systems now owns 16,176 shares of the financial services provider’s stock worth $687,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.
A number of equities research analysts have issued reports on the company. Wells Fargo & Co reaffirmed a “market perform” rating and set a $60.00 target price (up previously from $52.00) on shares of LPL Financial in a research report on Thursday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $66.00 price objective on shares of LPL Financial in a research report on Friday, December 22nd. Morgan Stanley raised LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 price objective for the company in a research report on Wednesday. Zacks Investment Research cut LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, SunTrust Banks reissued a “buy” rating and issued a $65.00 price objective on shares of LPL Financial in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. LPL Financial currently has an average rating of “Buy” and a consensus target price of $56.83.
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About LPL Financial
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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