LPL Financial Holdings (NASDAQ:LPLA) Price Target & New Coverage by Morgan Stanley
Morgan Stanley analyst has started coverage with a Underweight rating on LPL Financial Holdings (NASDAQ:LPLA) today and set a price target of $27.00. The company’s shares opened today at 30.07.
After the new initiation NASDAQ:LPLA is currently trading -1.12% lower at $30.07 as of 23:39 New York time. LPL Financial Holdings’s stock is down -33.27% over the last 200 days. It has underperformed the S&P500 Index, which has risen 4.90% over the same time period.
Out of 8 brokers covering LPL Financial Holdings, 2 rate it a Buy, 7 indicate a Hold while 2 suggest a Sell. The highest target is $30 and the lowest is $21 according to Thomson/First Call. The 12-month mean target is $27.19, which means downside potential of 9.58% over the current price.
NASDAQ:LPLA Price Chart & Trend
The stock price of LPL Financial Holdings declined 33.27% over the last 200 days, and is in strong down trend. In the last 50 and 100 days, LPL Financial Holdings is up 26.96% and up 20.74%, respectively. Our stocks momentum model is shown on the price chart below.
Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models
Institutional Ownership
Hmi Capital Llc had the most significant stake with ownership of 1.42 million shares as of Q2 2015 for 25.2% of the US long stock exposure. Fairview Capital Investment Management Llc is another bullish fund who is possessing 3.44 million shares of LPL Financial Holdings or 13.27% of their US long stock exposure. Moreover, Fpr Partners Llc have 11.46% of their US long stock exposure invested in the company for 9.61 million shares. The California-based fund Dragoneer Investment Group Llc revealed it had purchased a stake worth about 9.74% of the fund’s stock portfolio in LPL Financial Holdings. The Massachusetts-based fund Stockbridge Partners Llc is also positive about the stock, possessing 614,823 shares or 7.88% of their US long stock exposure.
LPL Financial Holdings (NASDAQ:LPLA) Profile
LPL Financial Holdings Inc. is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country. Through its advisors, the Company is a distributor of financial products and services in the United States.
LPL Financial Holdings (NASDAQ:LPLA) traded down -1.12% on 26 September, hitting $30.07. A total of shares of the company’s stock traded hands. This is down from average of 480,428 shares. LPL Financial Holdings has a 52 week low of $15.38 and a 52 week high of $48. The company has a market cap of $2.65B and a P/E ratio of 16.68.
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