JMP Group (NYSE:JMP) stock is soaring higher on Friday after releasing its earnings report for the fourth quarter of 2020 after-hours yesterday.
The most recent earnings report has JMP Group bringing in earnings per share of 42 cents on revenue of $53.62 million. Both of these are strong increases over the company’s EPS and revenue of 1 cent and $23.82 million from the same time last year.
Those positive results for the quarter are easily enough to explain why JPM stock is on the rise today. However, there’s more investors should note. It looks like the company is the target of investors looking to pump and dump it on the news. Talk on social media seems to back this idea up.
Keeping these factors in mind, here’s what investors need to know about the company before picking up JMP stock.
- JMP Group is a financial services company that operates out of San Francisco.
- The company’s business is handled by three divisions.
- They are its investment bank JMP Securities, investment advisor Harvest Capital Strategies, and private equity funds manager JMP Asset Management.
- JMP is lead by co-founder, chairman and CEO Joe Jolson.
- He has roughly 40 years of experience in the industry and has an MBA from The Wharton School at the University of Pennsylvania and a BA degree from Yale University.
- The company was founded in 1999 and joined the public market in 2007.
JMP stock was up 49.7% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.