Piper Jaffray Reports $50.4M Loss

MINNEAPOLIS, MN — Piper Jaffray, an investment bank and asset management firm, reported a third-quarter loss of $50.4 million on Thursday, after reporting a profit in the same period a year earlier.

The Minneapolis-based company said it had a loss of $3.91 per share. Earnings, adjusted for non-recurring costs, came to $2.13 per share.

The company posted revenue of $244.9 million in the period. Its adjusted revenue was $240.6 million.

Piper Jaffray shares have decreased 14 percent since the beginning of the year. The stock has increased 21 percent in the last 12 months.

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