Siebert Financial Corp. (NASDAQ:SIEB) Sees Significant Drop in Short Interest

Key Points

• Siebert Financial Corp. (NASDAQ:SIEB) experienced an 18.8% decrease in short interest in August, with total short interest dropping to 462,000 shares as of August 31st.
• In its latest earnings report, Siebert Financial posted a loss of ($0.12) EPS for the quarter, along with a revenue of $14.87 million and a net margin of 11.00%.
• Recently, Wall Street Zen downgraded its rating for Siebert Financial from "buy" to "sell" on August 16th.

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 462,000 shares, a decline of 18.8% from the August 15th total of 569,300 shares. Based on an average trading volume of 120,700 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.5% of the shares of the company are short sold. Approximately 3.5% of the shares of the company are short sold. Based on an average trading volume of 120,700 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Trading of Siebert Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIEB. JPMorgan Chase & Co. boosted its holdings in Siebert Financial by 111,383.3% during the second quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider's stock worth $30,000 after buying an additional 6,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Siebert Financial in the second quarter valued at $34,000. Jane Street Group LLC acquired a new stake in shares of Siebert Financial during the 4th quarter valued at $37,000. Invesco Ltd. bought a new stake in shares of Siebert Financial during the 2nd quarter worth $45,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Siebert Financial in the 2nd quarter worth $48,000. 1.52% of the stock is owned by institutional investors and hedge funds.

Siebert Financial Price Performance

Shares of SIEB traded up $0.06 during midday trading on Monday, reaching $2.98. The stock had a trading volume of 32,816 shares, compared to its average volume of 79,978. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $123.45 million, a P/E ratio of 12.42 and a beta of 0.69. The firm's 50 day moving average price is $3.38 and its 200-day moving average price is $3.64. Siebert Financial has a 52 week low of $2.08 and a 52 week high of $5.77.

Siebert Financial (NASDAQ:SIEB - Get Free Report) last released its earnings results on Tuesday, August 12th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter. Siebert Financial had a return on equity of 10.78% and a net margin of 11.00%.The firm had revenue of $14.87 million for the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Siebert Financial from a "buy" rating to a "sell" rating in a research note on Saturday, August 16th.

Siebert Financial Company Profile

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