LPL Financial Holdings (LPLA): Price Target and June Short Interest Disclosure

LPL Financial Holdings (LPLA) : The consensus price target for LPL Financial Holdings (LPLA) is $31.4 for the short term with a standard deviation of $7.89. The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $43, however, the pessimist price target for the company is $24.

LPL Financial Holdings (LPLA) reported a rise of 1.6% or 209,480 shares in its short interest. The short figure came in at 17.5% of the total floats. The average daily volume of 1,033,660 shares suggests that the days to cover 13,648,289 short positions, as on June 30,2016, will be 13. On June 15,2016, the short interest was 13,438,809 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm SunTrust Robinson Humphrey maintains its rating on LPL Financial Holdings (NASDAQ:LPLA). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at SunTrust Robinson Humphrey raises the price target from $27 per share to $30 per share. The rating by the firm was issued on June 2, 2016.


LPL Financial Holdings (NASDAQ:LPLA): On Thursdays trading session , Opening price of the stock was $24.7 with an intraday high of $25.075. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $23.14. However, the stock managed to close at $23.91, a loss of 0.66% for the day. On the previous day, the stock had closed at $24.07. The total traded volume of the day was 1,887,306 shares.

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 4,400 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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