JMP Group (NYSE:JMP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research report issued on Thursday, November 9th. The firm currently has a $6.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 14.29% from the stock’s current price.
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 issued a $6.00 price target on shares of JMP Group in a report on Friday, November 3rd.
JMP Group (NYSE:JMP) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. JMP Group had a negative net margin of 11.87% and a positive return on equity of 2.90%. The firm had revenue of $32.03 million during the quarter, compared to the consensus estimate of $29.90 million. equities analysts anticipate that JMP Group will post 0.5 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of JMP. Renaissance Technologies LLC raised its position in shares of JMP Group by 1.2% during the 1st quarter. Renaissance Technologies LLC now owns 57,060 shares of the financial services provider’s stock valued at $346,000 after buying an additional 685 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of JMP Group by 149.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 48,695 shares of the financial services provider’s stock valued at $274,000 after buying an additional 29,158 shares in the last quarter. Finally, Continental Advisors LLC raised its position in shares of JMP Group by 12.2% during the 3rd quarter. Continental Advisors LLC now owns 295,326 shares of the financial services provider’s stock valued at $1,660,000 after buying an additional 32,000 shares in the last quarter. Hedge funds and other institutional investors own 12.99% of the company’s stock.
About JMP Group
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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