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JMP Group LLC (NYSE: JMP) announced the acquisition of Harvest Capital Credit Corporation by Portman Ridge Finance Corporation. This follows JMP's strategic plan to divest non-core asset management operations, culminating in a reported value of approximately $9.7 million received from the transaction. The Chairman noted the lack of regular cash dividends from Harvest and the potential for redeploying capital in ways that could enhance earnings per share.
JMP Group LLC (NYSE: JMP) announced that its subsidiary, JMP Group Inc., will redeem $10 million of its 7.25% Senior Notes due 2027 on June 25, 2021. Currently, $40 million of these notes are outstanding. The redemption price will be $25 per note plus accrued interest, with the redeemed notes being cancelled. U.S. Bank National Association will notify registered holders about the redemption. The company plans to utilize available cash for this transaction. This announcement reflects JMP Group's financial strategy in managing its debt obligations.
JMP Group LLC (NYSE: JMP) reported its financial results for Q1 2021, showing total net revenues of $38,493 thousand, a decrease from $53,615 thousand in Q4 2020 and an increase from $5,267 thousand in Q1 2020. The net income attributable to JMP Group was $1,089 thousand, down from $9,009 thousand in the previous quarter and a loss of $11,748 thousand in Q1 2020. Earnings per share stood at $0.05, significantly lower than $0.45 per share last quarter and a loss of $0.60 per share a year ago.
JMP Group LLC (NYSE: JMP) has announced the upcoming release of its financial results for the fiscal quarter ended March 31, 2021, scheduled for April 29, 2021, after the market closes. Notably, the company will not hold a conference call to discuss these quarterly results. However, an anticipated conference call regarding the quarter and six months ending June 30, 2021, is planned for late July. JMP Group is involved in investment banking, equity research, and alternative asset management for various clients.
JMP Group LLC (NYSE: JMP) has appointed Alfredo Barreto, Jr. as a managing director in its investment banking group, focusing on the cannabis sector. Based in San Francisco, Barreto brings extensive experience in consumer and specialty retail, enhancing JMP's commitment to the rapidly evolving cannabis industry. According to Mark Lehmann, the company's president, Barreto's expertise will support corporate clients in navigating the unique challenges of this dynamic market. JMP Group offers a range of investment banking and asset management services, catering to both corporate and institutional clients.
JMP Group LLC (NYSE: JMP) has appointed Mark Lehmann as president, in addition to his role as CEO of JMP Securities. His leadership is expected to streamline operations, as the company converges its business model. Joe Jolson, the chairman, noted that Lehmann's extensive experience and relationships will be vital for guiding both investment banking and corporate investment strategies for long-term growth.
JMP Group LLC (NYSE: JMP) reported record financial results for Q4 and FY 2020, showing total net revenues of $53.6 million for the quarter and $115.5 million for the year. Net income attributable to the company was $9 million in Q4, resulting in operating EPS of $0.42. Notable growth in investment banking revenues, which rose by 107.4% year-over-year to $43.3 million, highlights strong performance across sectors. The firm expects ongoing momentum into 2021, leveraging a stabilizing U.S. economy.
JMP Group LLC (NYSE: JMP) will announce its financial results for the fiscal quarter and year ending December 31, 2020, after market close on February 18, 2021. A conference call will follow at 10:00 a.m. ET on February 19, providing an opportunity for management to discuss these results. Participants can join the call by dialing (888) 566-6060 domestically or (973) 200-3100 internationally, with the identification number 5454327. The call will also be accessible via the investor relations section of JMP Group’s website.
JMP Group LLC (NYSE: JMP) announced key appointments at JMP Securities, enhancing its biopharma corporate finance team. Fedora Baloiu joins as managing director and co-head, alongside Silvan Tuerkcan and Gobind Singh as senior equity research analysts. David Kellman will also serve as co-head of biopharma corporate finance, while David Schechner heads mergers and acquisitions. These appointments aim to leverage existing relationships and expand coverage in the biotechnology sector, positioning JMP as a stronger resource in the life sciences industry.
JMP Group LLC (NYSE: JMP) announced its subsidiary's intent to redeem $10 million of 7.25% Senior Notes due 2027, on February 4, 2021. As of January 4, 2021, $50 million of the 2027 Notes were outstanding. The redemption will occur at $25 per note plus accrued interest. U.S. Bank National Association will manage the redemption process. This action reflects JMP Group's strategy to efficiently use available cash to manage its debt obligations.
