LPL Financial Holdings Inc (LPLA) Sees Large Drop in Short Interest

LPL Financial Holdings Inc (NASDAQ:LPLA) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,455,503 shares, a decline of 30.1% from the September 28th total of 2,082,014 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 650,666 shares, the days-to-cover ratio is presently 2.2 days.

A number of brokerages have issued reports on LPLA. ValuEngine lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Zacks Investment Research lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $83.00 price objective on shares of LPL Financial in a research note on Friday, July 27th. BidaskClub lowered shares of LPL Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 8th. Finally, Wolfe Research initiated coverage on shares of LPL Financial in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. LPL Financial has an average rating of “Hold” and a consensus price target of $77.82.

In related news, Director Michelle Oroschakoff sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $67.11, for a total value of $402,660.00. Following the completion of the transaction, the director now owns 19,811 shares of the company’s stock, valued at approximately $1,329,516.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Burton White sold 23,893 shares of LPL Financial stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $66.00, for a total transaction of $1,576,938.00. Following the sale, the director now directly owns 50,582 shares of the company’s stock, valued at approximately $3,338,412. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,143 shares of company stock worth $1,995,698. 2.60% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Integrated Investment Consultants LLC acquired a new position in shares of LPL Financial during the second quarter worth approximately $111,000. First Hawaiian Bank acquired a new position in shares of LPL Financial during the third quarter worth approximately $188,000. Contravisory Investment Management Inc. acquired a new position in shares of LPL Financial during the second quarter worth approximately $205,000. Calamos Advisors LLC acquired a new position in shares of LPL Financial during the second quarter worth approximately $206,000. Finally, GAM Holding AG acquired a new position in shares of LPL Financial during the second quarter worth approximately $228,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Shares of NASDAQ:LPLA traded up $1.37 on Thursday, hitting $61.02. 920,235 shares of the company were exchanged, compared to its average volume of 969,054. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.40 and a current ratio of 1.40. LPL Financial has a one year low of $49.19 and a one year high of $73.28. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 0.77 and a beta of 1.59.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 25th. The financial services provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. LPL Financial had a net margin of 7.68% and a return on equity of 41.69%. Equities analysts predict that LPL Financial will post 5.19 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Thursday, November 8th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. LPL Financial’s dividend payout ratio (DPR) is presently 33.33%.

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LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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