LPL Financial Holdings Inc. (NASDAQ:LPLA) Short Interest Update

LPL Financial Holdings Inc. (NASDAQ:LPLA) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 1,070,000 shares, a decrease of 15.1% from the March 31st total of 1,260,000 shares. Based on an average daily trading volume, of 532,700 shares, the short-interest ratio is presently 2.0 days. Currently, 1.5% of the shares of the stock are sold short.

LPL Financial Stock Performance

LPL Financial stock traded down $4.78 on Tuesday, reaching $269.13. 760,577 shares of the stock were exchanged, compared to its average volume of 530,006. The stock has a market cap of $20.10 billion, a PE ratio of 19.99, a PEG ratio of 1.29 and a beta of 0.84. The firm has a fifty day moving average price of $264.17 and a two-hundred day moving average price of $242.25. LPL Financial has a twelve month low of $179.00 and a twelve month high of $275.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company earned $4.21 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts anticipate that LPL Financial will post 15.55 EPS for the current year.

Insider Activity at LPL Financial

In related news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kabir Sethi sold 1,300 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the completion of the sale, the director now directly owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares in the company, valued at $35,131,229.40. The disclosure for this sale can be found here. Insiders sold 60,151 shares of company stock worth $15,911,088 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

Several large investors have recently bought and sold shares of LPLA. Simplicity Solutions LLC raised its position in shares of LPL Financial by 38.2% during the third quarter. Simplicity Solutions LLC now owns 6,227 shares of the financial services provider’s stock valued at $1,480,000 after buying an additional 1,722 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in LPL Financial by 14.2% during the third quarter. Sumitomo Life Insurance Co. now owns 8,409 shares of the financial services provider’s stock valued at $1,998,000 after acquiring an additional 1,048 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of LPL Financial by 18.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,077 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 489 shares during the period. Compagnie Lombard Odier SCmA grew its holdings in shares of LPL Financial by 191.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 9,715 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 6,382 shares in the last quarter. Finally, Cigna Investments Inc. New bought a new stake in shares of LPL Financial during the third quarter valued at approximately $206,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LPLA. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. Raymond James started coverage on shares of LPL Financial in a research report on Thursday, April 4th. They issued an “underperform” rating for the company. JMP Securities increased their price target on shares of LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. UBS Group lifted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. raised their target price on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $276.00.

About LPL Financial

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.