GAIN Capital Holdings, Inc. (NYSE:GCAP) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Tuesday, July 18th.
According to Zacks, “institutional foreign exchange, trading and related services providing direct access to the global OTC foreign exchange markets, where participants trade directly with one another. Its trading platforms provide information and analytical tools that allow customers to identify, analyze and execute their trading strategies. GAIN also offers retail customers located outside the United States access to other global markets on an OTC basis, including the spot gold and silver markets, as well as equity indices and commodities. Its forex trading activities are regulated in the US by the Commodity Futures Trading Commission and the National Futures Association, in the UK by the Financial Services Authority, in Japan by the Financial Services Agency, in Hong Kong by the Securities and Futures Commission and in Australia by the Australian Securities and Investments Commission. GAIN Capital Holdings, Inc is based in Bedminster, New Jersey. “
A number of other brokerages also recently issued reports on GCAP. Jefferies Group LLC reiterated a “buy” rating and issued a $10.00 price target on shares of GAIN Capital Holdings in a report on Wednesday, April 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $7.00 price target on shares of GAIN Capital Holdings in a report on Monday, May 15th. Finally, TheStreet downgraded GAIN Capital Holdings from a “b-” rating to a “c” rating in a report on Thursday, May 4th.
Shares of GAIN Capital Holdings (GCAP) opened at 6.86 on Tuesday. GAIN Capital Holdings has a 52 week low of $4.54 and a 52 week high of $8.75. The company has a 50-day moving average price of $6.53 and a 200 day moving average price of $7.04. The stock has a market capitalization of $324.07 million, a PE ratio of 30.09 and a beta of 0.29.
GAIN Capital Holdings (NYSE:GCAP) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. GAIN Capital Holdings had a return on equity of 2.85% and a net margin of 3.21%. The business had revenue of $98.10 million for the quarter, compared to the consensus estimate of $98.70 million. During the same period last year, the business posted $0.27 EPS. The business’s revenue was down 9.2% compared to the same quarter last year. Equities analysts forecast that GAIN Capital Holdings will post $0.19 EPS for the current fiscal year.
GAIN Capital Holdings declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 17th that allows the company to buyback $35.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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In other GAIN Capital Holdings news, Director Christopher Warren Calhoun sold 5,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $6.39, for a total transaction of $31,950.00. Following the sale, the director now owns 50,149 shares in the company, valued at approximately $320,452.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 37,701 shares of company stock worth $251,853. 5.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its position in shares of GAIN Capital Holdings by 1.2% in the first quarter. Alliancebernstein L.P. now owns 25,100 shares of the financial services provider’s stock valued at $209,000 after buying an additional 300 shares during the period. American International Group Inc. boosted its position in shares of GAIN Capital Holdings by 7.0% in the first quarter. American International Group Inc. now owns 22,956 shares of the financial services provider’s stock valued at $191,000 after buying an additional 1,511 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of GAIN Capital Holdings by 2.2% in the second quarter. TIAA CREF Investment Management LLC now owns 97,677 shares of the financial services provider’s stock valued at $609,000 after buying an additional 2,095 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of GAIN Capital Holdings by 14.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 28,588 shares of the financial services provider’s stock valued at $238,000 after buying an additional 3,689 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of GAIN Capital Holdings by 18.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,592 shares of the financial services provider’s stock valued at $205,000 after buying an additional 3,832 shares during the period. Institutional investors and hedge funds own 49.28% of the company’s stock.
GAIN Capital Holdings Company Profile
GAIN Capital Holdings, Inc (GAIN) is a provider of trading services and solutions, specializing in over-the-counter (OTC) and exchange-traded markets. The Company’s segments include Retail segment, Institutional segment and Futures segment. Through its retail segment, the Company provides its retail customers across the world with access to a range of global financial markets, including spot forex, precious metals, spread bets and contracts for difference (CFDs) on commodities, indices, individual equities and interest rate products, as well OTC options on forex.
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