JMP Group (NYSE:JMP) Lowered to “Strong Sell” at Zacks Investment Research

JMP Group (NYSE:JMP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday, January 4th.

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, Keefe, Bruyette & Woods reissued a “hold” rating and set a $6.00 price target on shares of JMP Group in a research report on Friday, November 3rd.

JMP Group (NYSE:JMP) traded down $0.07 during trading hours on Thursday, reaching $5.49. 14,492 shares of the company’s stock were exchanged, compared to its average volume of 28,203. The stock has a market cap of $117.96, a price-to-earnings ratio of -8.58, a price-to-earnings-growth ratio of 1.28 and a beta of 0.80. The company has a debt-to-equity ratio of 7.31, a quick ratio of 3.25 and a current ratio of 3.25. JMP Group has a 52 week low of $5.20 and a 52 week high of $7.70.

JMP Group (NYSE:JMP) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The business had revenue of $32.03 million for the quarter, compared to analyst estimates of $29.90 million. JMP Group had a negative net margin of 11.87% and a positive return on equity of 2.90%. equities analysts predict that JMP Group will post 0.1 earnings per share for the current year.

JMP Group announced that its board has initiated a share repurchase plan on Wednesday, December 13th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In other JMP Group news, Director Thomas Rowe Wright purchased 12,500 shares of the stock in a transaction dated Tuesday, November 28th. The shares were bought at an average cost of $5.33 per share, with a total value of $66,625.00. Following the completion of the acquisition, the director now owns 363,636 shares of the company’s stock, valued at $1,938,179.88. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 52.11% of the company’s stock.

A hedge fund recently raised its stake in JMP Group stock. Continental Advisors LLC grew its position in shares of JMP Group LLC (NYSE:JMP) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,326 shares of the financial services provider’s stock after buying an additional 32,000 shares during the quarter. Continental Advisors LLC owned approximately 1.37% of JMP Group worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.98% of the stock is owned by institutional investors.

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JMP Group Company Profile

JMP Group LLC, formerly JMP Group, Inc, is a full-service investment banking and asset management firm. The Company operates in five segments: Broker-Dealer, Asset Management, Corporate Credit, Investment Income and Corporate Costs. The Broker-Dealer segment includes a range of 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.

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