StockNews.com Begins Coverage on Siebert Financial (NASDAQ:SIEB)

StockNews.com assumed coverage on shares of Siebert Financial (NASDAQ:SIEB) in a research report released on Tuesday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Siebert Financial Stock Up 1.4 %

Shares of Siebert Financial stock opened at $2.15 on Tuesday. The stock has a 50-day moving average price of $1.90 and a 200 day moving average price of $1.81. The company has a market cap of $85.10 million, a P/E ratio of 13.44 and a beta of 0.34. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.06. Siebert Financial has a 1 year low of $1.46 and a 1 year high of $3.05.

Institutional Investors Weigh In On Siebert Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in SIEB. Millennium Management LLC purchased a new stake in shares of Siebert Financial during the 4th quarter worth about $34,000. Vanguard Group Inc. raised its stake in shares of Siebert Financial by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 137,978 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 8,413 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Siebert Financial by 17.9% in the 2nd quarter. Northern Trust Corp now owns 40,001 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 6,083 shares in the last quarter. 1.52% of the stock is owned by hedge funds and other institutional investors.

Siebert Financial Company Profile

Siebert Financial Corp., through its subsidiaries, engages in the retail discount brokerage and investment advisory businesses in the United States and Internationally. It offers discount brokerage services, including self-directed trading, wealth management, financial advice, market making and fixed income investment, stock borrow, equity compensation plans, securities lending, equity stock plan, and market making services; independent retail execution services; and retail customer services.