Zacks Investment Research downgraded shares of JMP Group LLC (NYSE:JMP) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “JMP GROUP INC. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and alternative asset management products to institutional and high-net-worth investors. JMP Group operates through two subsidiaries, JMP Securities and JMP Asset Management. The company focuses its resources on small and middle-market growth companies and the institutions that invest in them. They approach their work with the idea that expertise, intellectual capital and relationships can never be commoditized. “

Separately, Keefe, Bruyette & Woods started coverage on shares of JMP Group in a research note on Monday, October 16th. They issued a mkt perform rating and a $5.75 price target on the stock.

Shares of JMP Group (JMP) opened at 5.60 on Wednesday. The stock’s market cap is $120.61 million. The company has a 50 day moving average price of $5.49 and a 200-day moving average price of $5.51. JMP Group has a 12 month low of $5.20 and a 12 month high of $7.70.

JMP Group (NYSE:JMP) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $23.14 million during the quarter, compared to the consensus estimate of $25.20 million. JMP Group had a negative net margin of 21.24% and a negative return on equity of 31.36%. On average, equities research analysts predict that JMP Group will post $0.28 earnings per share for the current year.

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In related news, Director Glenn H. Tongue purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the purchase, the director now directly owns 155,652 shares in the company, valued at $842,077.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 52.11% of the stock is owned by insiders.

A hedge fund recently raised its stake in JMP Group stock. Renaissance Technologies LLC boosted its stake in JMP Group LLC (NYSE:JMP) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,060 shares of the financial services provider’s stock after purchasing an additional 685 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of JMP Group worth $346,000 as of its most recent SEC filing. 13.01% of the stock is currently owned by hedge funds and other institutional investors.

About JMP Group

JMP Group LLC, formerly JMP Group, Inc, is a full-service investment banking and asset management firm. The Company operates in five segments: Broker-Dealer, Asset Management, Corporate Credit, Investment Income and Corporate Costs. The Broker-Dealer segment includes a range of services, such as underwriting and acting as a placement agent for public and private capital markets raising transactions and financial advisory services in mergers and acquisitions, restructuring and other strategic transactions.

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