Short Interest in Siebert Financial Corp. (NASDAQ:SIEB) Grows By 34.2%

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 80,400 shares, a growth of 34.2% from the March 15th total of 59,900 shares. Based on an average daily trading volume, of 15,700 shares, the days-to-cover ratio is presently 5.1 days. Currently, 0.6% of the company's stock are sold short.

Siebert Financial Stock Down 0.4 %

Siebert Financial stock traded down $0.01 during midday trading on Friday, hitting $2.17. 4,968 shares of the stock were exchanged, compared to its average volume of 25,915. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $85.89 million, a price-to-earnings ratio of 13.56 and a beta of 0.34. Siebert Financial has a 52-week low of $1.46 and a 52-week high of $3.05. The business's 50-day moving average price is $1.88 and its 200-day moving average price is $1.81.

Hedge Funds Weigh In On Siebert Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in shares of Siebert Financial during the fourth quarter valued at approximately $34,000. Northern Trust Corp increased its position in shares of Siebert Financial by 17.9% during the 2nd quarter. Northern Trust Corp now owns 40,001 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 6,083 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Siebert Financial by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 137,978 shares of the financial services provider's stock worth $298,000 after purchasing an additional 8,413 shares during the period. Hedge funds and other institutional investors own 1.52% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Siebert Financial in a research note on Monday, April 8th. They set a "hold" rating on the stock.

About Siebert Financial

Siebert Financial Corp., through its subsidiaries, engages in the retail discount brokerage and investment advisory businesses in the United States and Internationally. It offers discount brokerage services, including self-directed trading, wealth management, financial advice, market making and fixed income investment, stock borrow, equity compensation plans, securities lending, equity stock plan, and market making services; independent retail execution services; and retail customer services.