Trade Report: The Virginia Retirement Systems ET AL Acquires 9,400 Shares of Piper Jaffray Cos. (PJC)

The Virginia Retirement Systems ET AL Acquires 9,400  Shares of Piper Jaffray Cos. (PJC)

Virginia Retirement Systems ET AL acquired a new position in Piper Jaffray Cos. (NYSE:PJC) during the second quarter, Holdings Channel reports. The fund acquired 9,400 shares of the company’s stock, valued at approximately $354,000. Virginia Retirement Systems ET AL owned 0.08% of Piper Jaffray Cos. at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Piper Jaffray Cos. by 101.1% in the second quarter. BNP Paribas Arbitrage SA now owns 4,491 shares of the company’s stock worth $169,000 after buying an additional 2,258 shares during the period. Eqis Capital Management Inc. boosted its stake in shares of Piper Jaffray Cos. by 10.6% in the second quarter. Eqis Capital Management Inc. now owns 5,989 shares of the company’s stock worth $226,000 after buying an additional 572 shares during the period. Adams Diversified Equity Fund Inc. acquired a new stake in shares of Piper Jaffray Cos. during the second quarter worth $377,000. NorthRock Partners LLC acquired a new stake in shares of Piper Jaffray Cos. during the first quarter worth $492,000. Finally, Virginia Retirement System acquired a new stake in shares of Piper Jaffray Cos. during the first quarter worth $520,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Shares of Piper Jaffray Cos. (NYSE:PJC) opened at 50.59 on Friday. The stock has a market cap of $769.68 million, a PE ratio of 33.64 and a beta of 1.56. The stock’s 50 day moving average is $46.21 and its 200-day moving average is $43.49. Piper Jaffray Cos. has a 12-month low of $31.66 and a 12-month high of $50.86.

Piper Jaffray Cos. (NYSE:PJC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.35. Piper Jaffray Cos. had a net margin of 2.97% and a return on equity of 5.74%. The company earned $170.50 million during the quarter, compared to analyst estimates of $143.86 million. During the same quarter last year, the business posted $1.19 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts expect that Piper Jaffray Cos. will post $0.81 EPS for the current year.

Separately, TheStreet upgraded shares of Piper Jaffray Cos. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Piper Jaffray Cos. presently has a consensus rating of “Hold” and a consensus target price of $45.00.

In related news, insider Christopher D. Crawshaw sold 5,000 shares of Piper Jaffray Cos. stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $41.88, for a total transaction of $209,400.00. Following the completion of the sale, the insider now owns 51,651 shares in the company, valued at approximately $2,163,143.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Gregory Smith sold 2,500 shares of Piper Jaffray Cos. stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $41.42, for a total transaction of $103,550.00. Following the sale, the insider now owns 13,751 shares of the company’s stock, valued at approximately $569,566.42. The disclosure for this sale can be found here. Corporate insiders own 6.46% of the company’s stock.

Piper Jaffray Cos. Company Profile

Piper Jaffray Companies is an investment bank and asset management company, which serves the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services, including equity and debt capital markets products, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research, and asset management services.

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