JMP Group LLC (NYSE:JMP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, October 18th.
According to Zacks, “JMP GROUP INC. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and alternative asset management products to institutional and high-net-worth investors. JMP Group operates through two subsidiaries, JMP Securities and JMP Asset Management. The company focuses its resources on small and middle-market growth companies and the institutions that invest in them. They approach their work with the idea that expertise, intellectual capital and relationships can never be commoditized. “
Separately, Keefe, Bruyette & Woods initiated coverage on JMP Group in a report on Monday, October 16th. They set a “mkt perform” rating and a $5.75 price objective for the company.
JMP Group (NYSE:JMP) traded up 0.55% on Wednesday, reaching $5.50. The company’s stock had a trading volume of 13,589 shares. JMP Group has a 52-week low of $5.20 and a 52-week high of $7.70. The firm’s 50-day moving average price is $5.51 and its 200 day moving average price is $5.50. The company’s market cap is $118.45 million.
JMP Group (NYSE:JMP) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $23.14 million during the quarter, compared to analyst estimates of $25.20 million. JMP Group had a positive return on equity of 1.52% and a negative net margin of 10.35%. Equities analysts anticipate that JMP Group will post $0.28 EPS for the current fiscal year.
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In related news, Director Glenn H. Tongue acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was purchased at an average cost of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now owns 155,652 shares of the company’s stock, valued at approximately $842,077.32. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 52.11% of the company’s stock.
A hedge fund recently raised its stake in JMP Group stock. Renaissance Technologies LLC increased its holdings in JMP Group LLC (NYSE:JMP) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,060 shares of the financial services provider’s stock after acquiring an additional 685 shares during the period. Renaissance Technologies LLC owned about 0.26% of JMP Group worth $346,000 at the end of the most recent quarter. Institutional investors own 13.00% of the company’s stock.
About JMP Group
JMP Group LLC, formerly JMP Group, Inc, is a full-service investment banking and asset management firm. The Company operates in five segments: Broker-Dealer, Asset Management, Corporate Credit, Investment Income and Corporate Costs. The Broker-Dealer segment includes a range of services, such as underwriting and acting as a placement agent for public and private capital markets raising transactions and financial advisory services in mergers and acquisitions, restructuring and other strategic transactions.
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