LPL Financial stock rebounded by more than 19 percent Tuesday after closing down 35 percent Friday following disappointing earnings.

The company said last week that a slowdown in commission revenue, driven by a drop in sales of alternative investments, would likely continue this year.

Commission revenue, LPL’s biggest revenue line, was down 12 percent to $463 million in the fourth quarter, and off 7 percent for the year.

LPL executives warned that volatile markets, combined with the U.S. Department of Labor’s pending fiduciary rule, would continue to impact sales of non-traded REITs and other commissionable products.

The news led to earnings target cuts by analysts at Credit Suisse, JPMorgan, William Blair, Wells Fargo and Keefe, Bruyette & Woods, according to news reports. Credit Suisse upgraded its recommendation on the stock based largely on valuation after it fell 35 percent last Friday.

After Tuesday's pop in LPL's stock price, shares slumped 6.7 percent in after-hours trading. But as of 11:20 a.m. Wednesday, shares recaptured those losses and were up 8 percent, to $21.29.

LPL also disclosed last week that the firm had gained just 18 advisors in all of 2015, well off its usual pace in recent years of about 300 recruits.

Recruiters say LPL has suffered from service issues, negative headlines from regulatory problems, and is seen as too big and inflexible by some potential recruits.

But LPL chief executive Mark Casady last week said the stalled head count numbers reflected a “flushing out” of lower-end producers, and that the recruiting pipeline was as strong as it’s been “in a couple of years.”

The firm on Tuesday released the names of selected advisors it recruited in the fourth quarter, including 20 teams or advisors with $100 million or more of assets serviced.