LPL Financial Holdings Inc (LPLA) Short Interest Update

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.

LPL Financial declared that its board has initiated a stock repurchase program on Tuesday, December 5th that authorizes the company to buyback $359.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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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