Siebert Financial (NASDAQ:SIEB) Major Shareholder Richard Gebbia Acquires 15,000 Shares

Key Points

• Major shareholder Richard Gebbia bought 15,000 Siebert Financial shares at an average price of $1.86, increasing his direct stake by 2.67% to 576,273 shares.
• Siebert Financial shares rose to $2.24 in Friday trading, while the company reported quarterly revenue of $31.17 million and a loss of $0.01 per share.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell” rating, and MarketBeat reports a consensus “Sell” rating. Institutional investors own only 1.52% of the company.

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report) major shareholder Richard Gebbia acquired 15,000 shares of Siebert Financial stock in a transaction dated Thursday, May 28th. The shares were bought at an average price of $1.86 per share, with a total value of $27,900.00. Following the transaction, the insider directly owned 576,273 shares in the company, valued at approximately $1,071,867.78. The trade was a 2.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Siebert Financial Stock Performance

Shares of SIEB traded up $0.27 during midday trading on Friday, reaching $2.24. 1,270,565 shares of the stock were exchanged, compared to its average volume of 54,002. Siebert Financial Corp. has a twelve month low of $1.53 and a twelve month high of $4.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $92.06 million, a price-to-earnings ratio of -74.64 and a beta of 0.93. The business's 50-day moving average price is $1.76 and its 200 day moving average price is $1.88.

Siebert Financial (NASDAQ:SIEB - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter. Siebert Financial had a negative return on equity of 1.25% and a negative net margin of 1.07%.The company had revenue of $31.17 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Siebert Financial in a research note on Friday, June 26th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Siebert Financial has a consensus rating of "Sell".

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SIEB. JPMorgan Chase & Co. grew its stake in Siebert Financial by 111,383.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 6,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Siebert Financial during the 2nd quarter worth approximately $34,000. Invesco Ltd. acquired a new position in shares of Siebert Financial during the 2nd quarter worth approximately $45,000. Wells Fargo & Company MN lifted its stake in Siebert Financial by 48.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,818 shares of the financial services provider's stock valued at $56,000 after buying an additional 5,198 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Siebert Financial by 60.5% in the 4th quarter. Jane Street Group LLC now owns 16,373 shares of the financial services provider's stock valued at $57,000 after buying an additional 6,173 shares in the last quarter. Hedge funds and other institutional investors own 1.52% of the company's stock.

Siebert Financial Company Profile

Siebert Financial Corp., trading on the Nasdaq under the symbol SIEB, is the bank holding company for Siebert Bank & Trust, offering a full range of community banking services. Through its subsidiary, the company provides traditional deposit products, lending solutions and digital banking capabilities designed to meet the needs of individuals, businesses and agricultural customers.

Siebert's product suite includes checking and savings accounts, certificates of deposit and money market instruments, alongside consumer and mortgage loans, agricultural lending and commercial credit facilities.

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