Siebert Financial (NASDAQ:SIEB) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Siebert Financial (NASDAQ:SIEB) in a report issued on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Siebert Financial Trading Up 1.9 %

Shares of Siebert Financial stock opened at $2.12 on Tuesday. The firm has a market capitalization of $83.91 million, a PE ratio of 13.25 and a beta of 0.34. Siebert Financial has a twelve month low of $1.46 and a twelve month high of $3.05. The firm’s 50-day moving average price is $1.90 and its 200 day moving average price is $1.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in Siebert Financial by 17.9% in the 2nd quarter. Northern Trust Corp now owns 40,001 shares of the financial services provider’s stock valued at $99,000 after buying an additional 6,083 shares in the last quarter. Millennium Management LLC acquired a new stake in Siebert Financial in the 4th quarter valued at about $34,000. Finally, Vanguard Group Inc. raised its holdings in Siebert Financial by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 137,978 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 8,413 shares during the last quarter. 1.52% of the stock is owned by hedge funds and other institutional investors.

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.