Short Interest in Siebert Financial Corp. (NASDAQ:SIEB) Declines By 7.4%

Siebert Financial Corp. (NASDAQ:SIEB) was the target of a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 438,800 shares, a drop of 7.4% from the November 14th total of 474,100 shares. Currently, 6.7% of the company’s shares are sold short. Based on an average daily volume of 7,200 shares, the short-interest ratio is currently 60.9 days.

Shares of NASDAQ:SIEB traded down $0.12 during trading on Friday, reaching $9.98. 14,849 shares of the stock were exchanged, compared to its average volume of 8,017. Siebert Financial has a 12 month low of $8.17 and a 12 month high of $14.75. The firm has a market cap of $275.64 million, a PE ratio of 31.72 and a beta of 0.16. The stock has a 50-day moving average price of $9.94 and a 200-day moving average price of $9.75. The company has a current ratio of 15.91, a quick ratio of 15.91 and a debt-to-equity ratio of 0.14.

In other news, major shareholder Gloria E. Gebbia sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $1.90, for a total value of $95,000.00. Following the transaction, the insider now directly owns 7,658,500 shares in the company, valued at approximately $14,551,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 67.02% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in SIEB. Tower Research Capital LLC TRC acquired a new stake in Siebert Financial in the second quarter valued at $38,000. Charles Schwab Investment Management Inc. boosted its position in Siebert Financial by 17.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 20,332 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 2,950 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Siebert Financial by 8.9% during the second quarter. Bank of New York Mellon Corp now owns 23,389 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 1,913 shares during the last quarter. Northern Trust Corp boosted its position in Siebert Financial by 2.0% during the second quarter. Northern Trust Corp now owns 99,717 shares of the financial services provider’s stock valued at $897,000 after acquiring an additional 1,913 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Siebert Financial by 32.1% during the 2nd quarter. Vanguard Group Inc. now owns 367,301 shares of the financial services provider’s stock worth $3,306,000 after purchasing an additional 89,317 shares in the last quarter. Institutional investors own 4.92% of the company’s stock.

Separately, ValuEngine raised Siebert Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

Siebert Financial Company Profile

Siebert Financial Corp., through its subsidiaries, engages in the retail discount brokerage and investment advisory businesses. The company offers online and traditional brokerage, and related services to retail investors through a broker on the telephone, a wireless device, or through the Internet; various value added services, such as access to account information; independent retail execution services; and retail customer services.

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