JMP Group (NYSE:JMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has a $4.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.31% from the stock’s previous close.
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, Barrington Research reaffirmed an “outperform” rating on shares of JMP Group in a research note on Monday, November 2nd.
JMP Group stock opened at $3.53 on Wednesday. The firm has a market capitalization of $69.42 million, a P/E ratio of -3.43, a PEG ratio of 0.86 and a beta of 0.79. JMP Group has a one year low of $2.15 and a one year high of $3.75. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.93 and a quick ratio of 1.93. The business has a fifty day moving average price of $2.75 and a 200-day moving average price of $2.67.
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JMP Group (NYSE:JMP) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $26.62 million for the quarter, compared to analysts’ expectations of $22.80 million. JMP Group had a positive return on equity of 7.71% and a negative net margin of 23.51%. Sell-side analysts expect that JMP Group will post 0.35 earnings per share for the current fiscal year.
In related news, CEO Joseph A. Jolson bought 200,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average cost of $2.39 per share, with a total value of $478,000.00. Following the completion of the purchase, the chief executive officer now directly owns 36,400 shares of the company’s stock, valued at approximately $86,996. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig R. Johnson bought 11,895 shares of the company’s stock in a transaction on Friday, November 20th. The shares were bought at an average price of $2.65 per share, with a total value of $31,521.75. Following the completion of the transaction, the director now owns 367,912 shares of the company’s stock, valued at $974,966.80. The disclosure for this purchase can be found here. Insiders have purchased 242,299 shares of company stock valued at $598,660 in the last three months. 58.67% of the stock is owned by corporate insiders.
About JMP Group
JMP Group LLC, together with its subsidiaries, provides investment banking, sales and trading, equity research, and asset management products and services in the United States. The company operates through Broker-Dealer, Asset Management Fee Income, and Investment Income segments. It offers various 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, as well as institutional brokerage services and equity research services.
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7 Housing Sector Stocks That May Be Ready to Explode
In one of the strongest economies our nation has ever known, housing stocks should have been going through the roof. But it took the Federal Reserve practically giving money away for homebuyers to get their appetite back.
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