Breaking News: Shares Of JMP Group (NYSE: JMP) Soar After Earnings Release In After Hours Trading

Tonight shares of JMP Group (NYSE: JMP) have almost doubled after the closing bell on the New York Stock Exchange in after hours trading. As you can see from this chart the stock is up close 85% right now.

JMP Group (NYSE: JMP) is an alternative asset management company with a market cap just under $100 million USD that is paying a dividend of 3.22%. The company posted earnings of 42 cents for the last quarter and 63 cents for the year. The CEO celebrated the results today, stating that “We had a terrific year, and we are enthusiastic about our prospects for 2021,“ said Mark Lehmann, CEO of JMP Securities. “At JMP Securities, revenues climbed to a new high, totaling $118.5 million for 2020. Our investment banking revenues were well diversified, with 60% from public equity and debt capital raising and 40% from strategic advisory and private placements. Our M&A business is maturing as we had envisioned when we committed to building out our capabilities several years ago, with senior hires proving productive on our platform and contributing to record annual advisory fees of $40.5 million. From an equity capital markets standpoint, we have a stronger backlog in the technology sector than ever before. At the same time, our life sciences franchise was our biggest contributor to revenues last year, and we hope to build on our momentum in that area in 2021.”

On Twitter people are noticing the trading action.

I do not own this stock. It is a simply a situation I am watching for now.

-Tim



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