Bank of America Corp DE Increases Stake in GAIN Capital Holdings, Inc. (GCAP)
Bank of America Corp DE boosted its stake in GAIN Capital Holdings, Inc. (NYSE:GCAP) by 40.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,534 shares of the financial services provider’s stock after buying an additional 9,964 shares during the period. Bank of America Corp DE owned about 0.07% of GAIN Capital Holdings worth $287,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Martingale Asset Management L P bought a new stake in GAIN Capital Holdings during the first quarter worth about $126,000. Eagle Global Advisors LLC bought a new stake in GAIN Capital Holdings during the first quarter worth about $153,000. American International Group Inc. raised its stake in 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 worth $191,000 after buying an additional 1,511 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in 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 worth $205,000 after buying an additional 3,832 shares during the period. Finally, Alliancebernstein L.P. raised its stake in 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 worth $209,000 after buying an additional 300 shares during the period. Institutional investors own 53.55% of the company’s stock.
Shares of GAIN Capital Holdings, Inc. (NYSE GCAP) traded up 0.32% on Thursday, reaching $6.36. The company had a trading volume of 38,326 shares. The firm has a 50-day moving average price of $6.63 and a 200 day moving average price of $6.97. The firm has a market capitalization of $300.45 million, a price-to-earnings ratio of 27.89 and a beta of 0.29. GAIN Capital Holdings, Inc. has a 1-year low of $4.54 and a 1-year high of $8.75.
GAIN Capital Holdings (NYSE:GCAP) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $98.10 million for the quarter, compared to analyst estimates of $98.70 million. GAIN Capital Holdings had a net margin of 3.21% and a return on equity of 2.85%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Equities research analysts predict that GAIN Capital Holdings, Inc. will post $0.19 earnings per share for the current year.
GAIN Capital Holdings declared that its Board of Directors has approved 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 reacquire up to 12.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 12th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.79%. GAIN Capital Holdings’s dividend payout ratio is presently 104.35%.
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A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered GAIN Capital Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 9th. Jefferies Group LLC upped their price target on GAIN Capital Holdings from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, May 8th. TheStreet lowered GAIN Capital Holdings from a “b-” rating to a “c” rating in a research report on Thursday, May 4th. BidaskClub lowered GAIN Capital Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $7.00 price objective on shares of GAIN Capital Holdings in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $7.58.
In other GAIN Capital Holdings news, Director Christopher Warren Calhoun sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $6.39, for a total value of $31,950.00. Following the transaction, 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 this link. Also, major shareholder Ltd Ipgl acquired 36,675 shares of the company’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $6.25 per share, for a total transaction of $229,218.75. The disclosure for this purchase can be found here. In the last quarter, insiders sold 40,000 shares of company stock worth $270,078. Company insiders own 5.00% of the company’s stock.
About GAIN Capital Holdings
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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