Stock Alert: JMP Group Hits New 52-week High On Q4 Profit

(RTTNews) - Shares of JMP Group LLC (JMP), a California-based investment banking and alternative asset management firm, are surging more than 48 percent or $2.39 in Friday's morning trade at $7.36, after hitting a new 52-week high of $8.99.

Thursday, JMP Group reported fourth-quarter net income of $9.01 million or $0.45 per share, compared to net loss of $6.45 million or $0.33 per share in the year-ago period. Operating net income was $0.42 per share, compared to $0.01 per share last year. Net revenues surged to $53.62 million from $23.82 million in the prior-year quarter.

JMP Group has traded in a range of $2.15 to $8.99 in the past 52 weeks.