StockNews.com Initiates Coverage on Siebert Financial (NASDAQ:SIEB)

StockNews.com started coverage on shares of Siebert Financial (NASDAQ:SIEBGet Rating) in a report issued on Friday. The firm set a “hold” rating on the financial services provider’s stock.

Shares of SIEB stock opened at $1.58 on Friday. The stock’s 50-day moving average is $2.09 and its two-hundred day moving average is $2.35. The firm has a market cap of $51.20 million, a price-to-earnings ratio of 9.88 and a beta of -0.41. Siebert Financial has a 1 year low of $1.56 and a 1 year high of $6.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.

Siebert Financial (NASDAQ:SIEBGet Rating) last issued its quarterly earnings data on Wednesday, March 30th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $14.74 million for the quarter. Siebert Financial had a return on equity of 11.39% and a net margin of 7.50%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIEB. Morgan Stanley grew its holdings in shares of Siebert Financial by 395.1% during the first quarter. Morgan Stanley now owns 54,433 shares of the financial services provider’s stock worth $220,000 after buying an additional 43,439 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Siebert Financial by 21.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 33,429 shares of the financial services provider’s stock worth $78,000 after buying an additional 6,000 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Siebert Financial during the fourth quarter worth about $163,000. Millennium Management LLC grew its holdings in shares of Siebert Financial by 131.1% during the fourth quarter. Millennium Management LLC now owns 52,766 shares of the financial services provider’s stock worth $122,000 after buying an additional 29,931 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Siebert Financial during the fourth quarter worth about $57,000. 61.97% of the stock is currently owned by hedge funds and other institutional investors.

About Siebert Financial (Get Rating)

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.

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