LPL Financial Holdings Inc. (NASDAQ:LPLA) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 11,310,210 shares, a drop of 18.6% from the October 31st total of 13,886,812 shares. Based on an average daily trading volume, of 1,441,402 shares, the days-to-cover ratio is currently 7.8 days. Approximately 14.6% of the company’s stock are sold short.
Shares of LPL Financial Holdings (NASDAQ:LPLA) opened at 40.71 on Monday. LPL Financial Holdings has a 12-month low of $15.38 and a 12-month high of $48.00. The firm has a market capitalization of $3.63 billion, a PE ratio of 21.05 and a beta of 1.71. The company’s 50-day moving average price is $34.00 and its 200 day moving average price is $28.35.
LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. LPL Financial Holdings had a return on equity of 24.56% and a net margin of 4.36%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned $0.55 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts forecast that LPL Financial Holdings will post $2.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Monday, November 14th. LPL Financial Holdings’s dividend payout ratio is currently 51.28%.
Hedge funds have recently modified their holdings of the company. Integrated Investment Consultants LLC raised its stake in shares of LPL Financial Holdings by 9.4% in the third quarter. Integrated Investment Consultants LLC now owns 4,675 shares of the company’s stock worth $149,000 after buying an additional 400 shares in the last quarter. TLP Group LLC bought a new stake in shares of LPL Financial Holdings during the third quarter worth approximately $164,000. WFG Advisors LP raised its stake in shares of LPL Financial Holdings by 63.0% in the second quarter. WFG Advisors LP now owns 5,758 shares of the company’s stock worth $130,000 after buying an additional 2,226 shares in the last quarter. Seven Eight Capital LLC raised its stake in shares of LPL Financial Holdings by 295,600.0% in the first quarter. Seven Eight Capital LLC now owns 5,914 shares of the company’s stock worth $147,000 after buying an additional 5,912 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of LPL Financial Holdings by 673.9% in the second quarter. Royal Bank of Canada now owns 7,507 shares of the company’s stock worth $169,000 after buying an additional 6,537 shares in the last quarter.
A number of research analysts recently issued reports on the company. Morgan Stanley assumed coverage on LPL Financial Holdings in a report on Monday, September 26th. They set an “underweight” rating and a $27.00 price objective for the company. TheStreet upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Credit Suisse Group AG downgraded LPL Financial Holdings from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Monday, August 22nd. They noted that the move was a valuation call. SunTrust Banks Inc. restated a “hold” rating and issued a $36.00 price target (up from $35.00) on shares of LPL Financial Holdings in a research note on Thursday, November 3rd. Finally, Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $29.23.
LPL Financial Holdings Company Profile