Hmi Capital buys $67.2 Million stake in LPL Financial Holdings Inc (LPLA)

LPL Financial Holdings Inc (LPLA) : Hmi Capital scooped up 759,000 additional shares in LPL Financial Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,779,941 shares of LPL Financial Holdings Inc which is valued at $67.2 Million.LPL Financial Holdings Inc makes up approximately 14.08% of Hmi Capital’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd sold out all of its stake in LPLA during the most recent quarter. The investment firm sold 16,459 shares of LPLA which is valued $397,814.Raymond James Associates boosted its stake in LPLA in the latest quarter, The investment management firm added 311,797 additional shares and now holds a total of 416,037 shares of LPL Financial Holdings Inc which is valued at $10.1 Million. LPL Financial Holdings Inc makes up approx 0.03% of Raymond James Associates’s portfolio. Nationwide Fund Advisors sold out all of its stake in LPLA during the most recent quarter. The investment firm sold 82,059 shares of LPLA which is valued $2 Million.Td Asset Management Inc reduced its stake in LPLA by selling 73,000 shares or 59.35% in the most recent quarter. The Hedge Fund company now holds 50,000 shares of LPLA which is valued at $1.2 Million.Schwab Charles Investment Management Inc boosted its stake in LPLA in the latest quarter, The investment management firm added 41,448 additional shares and now holds a total of 299,522 shares of LPL Financial Holdings Inc which is valued at $7.2 Million. LPL Financial Holdings Inc makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.

LPL Financial Holdings Inc opened for trading at $26.65 and hit $27.97 on the upside on Wednesday, eventually ending the session at $27.82, with a gain of 5.14% or 1.36 points. The heightened volatility saw the trading volume jump to 15,25,684 shares. Company has a market cap of $2,476 M.

On the company’s financial health, LPL Financial Holdings Inc reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $1005.00 million for the quarter, compared to analysts expectations of $1027.92 million. The company’s revenue was down -9.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on LPL Financial Holdings Inc. LPL Financial Holdings Inc was Downgraded by Goldman to ” Sell” on Apr 5, 2016. LPL Financial Holdings Inc was Upgraded by Citigroup to ” Neutral” on Feb 17, 2016. LPL Financial Holdings Inc was Upgraded by Credit Suisse to ” Outperform” on Feb 16, 2016.

LPL Financial Holdings Inc. is an independent 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 including financial advisors at around 700 financial institutions enabling them to provide their retail investors with objective financial advice. It also supports approximately 4400 financial advisors who are affiliated and licensed with insurance companies through customized clearing services advisory platforms and technology solutions. It provides its advisors with the front-office middle-office and back-office support. The Company provides its technology and service to advisors through a technology platform that is server-based and Web-accessible. Its subsidiaries include LPL Financial LLC The Private Trust Company N.A. Independent Advisers Group Corporation and LPL Insurance Associates Inc.

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