Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our Common Stock traded on the Nasdaq Global Market until June 29, 2011 when our Common Stock started trading on the Nasdaq Capital Market, under the symbol “SIEB”. The high and low sales prices of
our Common Stock reported by Nasdaq during the following calendar quarters were as follows:
2020
2019
High
Low
High
Low
First Quarter
$
9.41
$
6.15
$
14.54
$
10.80
Second Quarter
$
7.83
$
5.04
$
12.00
$
8.17
Third Quarter
$
5.28
$
3.15
$
12.36
$
8.71
Fourth Quarter
$
4.60
$
3.13
$
12.10
$
8.18
The closing sale price of our Common Stock as reported on the Nasdaq Capital Market on March 1, 2021 was $4.89 per share. As of March 1, 2021, there were 100 holders of record of our Common Stock
based on information provided by our transfer agent. The number of stockholders of record does not reflect the number of individual or institutional stockholders that beneficially own our stock because most stock is held in the name of nominees.
Based on information available to us, we believe there are approximately 5,789 beneficial holders of our Common Stock as of March 1, 2021.
Dividend Policy
Our Board of Directors periodically considers whether to declare dividends. In considering whether to pay such dividends, our Board of Directors will review our earnings, capital requirements,
economic forecasts and such other factors as are deemed relevant. Some portion of our earnings will be retained to provide capital for the operation and expansion of our business.
Share Price Volatility
Since our Common Stock started trading on the Nasdaq Capital Market, our Common Stock has been relatively thinly traded and at times been subject to price volatility. Recently, our Common Stock has
experienced extreme price volatility. From January 1, 2021 to January 28, 2021, the average close price of our Common Stock was $3.93 per share. On January 29, 2021, the price increased to a high of $18.50 per share and 33,821,000 shares were traded.
From February 1, 2021 to February 28, 2021, the average close price was $5.60 per share. The average daily trading volume from March 1, 2020 to March 1, 2021 was approximately 200,000 shares per day. We have not experienced any material changes in
our financial condition or results of operations that explain such price volatility or trading volume.
Siebert 2020 Form-10K 17
Performance Graph
The graph below compares our Common Stock performance from December 31, 2015 through December 31, 2020 against the performance of the Nasdaq Composite Index and a customized peer group.
Cumulative Total Return*
2015
2016
2017
2018
2019
2020
Siebert Financial Corp.
100.00
267.97
1,213.95
1,300.28
777.83
377.67
Nasdaq Composite
100.00
108.87
141.13
137.12
187.44
271.64
Peer Group
100.00
121.02
158.72
129.48
150.66
171.13
Siebert 2020 Form-10K 18
ITEM 6. SELECTED FINANCIAL DATA
The following selected financial information should be read in conjunction with our consolidated financial statements and the related notes thereto.
(In thousands except share and per share data)
Year Ended December 31,
2020
2019
*
2018
2017
2016
Consolidated Statements of Operations Data:
Revenue
$
54,872
$
47,777
$
30,036
$
13,110
$
9,812
Net income / (loss)
$
2,975
$
3,236
$
11,962
$
2,157
$
(5,578
)
Net income / (loss) per share of Common Stock
Basic and diluted
$
0.10
$
0.11
$
0.44
$
0.10
$
(0.25
)
Weighted average shares outstanding (basic and diluted)
30,637,794
30,455,962
27,157,188
22,507,798
22,085,126
Performance Metrics:
Year over year revenue increase / (decrease)
28
%
59
%**
129
%
34
%
(3
%)
Income / (loss) before income taxes margin
6
%
10
%**
25
%
18
%
(57
%)
As of December 31,
Consolidated Statements of Financial Condition Data:
2020
2019
*
2018
2017
2016
Cash and cash equivalents
$
3,632
$
4,670
$
7,229
$
3,765
$
2,730
Total Assets
$
1,372,987
$
538,067
$
18,177
$
6,025
$
3,816
Total Liabilities
$
1,335,001
$
504,932
$
1,003
$
813
$
1,563
Total Stockholders’ equity
$
37,986
$
33,135
$
17,174
$
5,212
$
2,253
Cash dividends declared on common shares
—
—
—
—
$
0.20
* Statement of financial condition and statement of income as of and for the year ended December 31, 2019 represent the pro forma combination of Siebert and
StockCross balances, which corresponds to the presentation of the financial statements within this report. See “Note 3 – Acquisitions” for additional detail . The periods prior to 2019 presented in the table
above represent Siebert’s standalone results.
**Siebert standalone results for 2019 were $28,593,000 in revenue and $3,607,000 in net income, with an income before income taxes margin of 17%.
Siebert 2020 Form-10K 19
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.