GAIN Capital Holdings, Inc. (GCAP) Position Boosted by California Public Employees Retirement System
California Public Employees Retirement System boosted its position in shares of GAIN Capital Holdings, Inc. (NYSE:GCAP) by 11.0% during the first quarter, Holdings Channel reports. The institutional investor owned 145,800 shares of the financial services provider’s stock after buying an additional 14,500 shares during the period. California Public Employees Retirement System’s holdings in GAIN Capital Holdings were worth $1,215,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in GCAP. Martingale Asset Management L P bought a new position in shares of GAIN Capital Holdings during the first quarter valued at $126,000. Eagle Global Advisors LLC bought a new position in shares of GAIN Capital Holdings during the first quarter valued at $153,000. American International Group Inc. raised 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 last quarter. Los Angeles Capital Management & Equity Research Inc. raised 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 last quarter. Finally, Alliancebernstein L.P. raised 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 last quarter. Hedge funds and other institutional investors own 49.28% of the company’s stock.
GAIN Capital Holdings, Inc. (NYSE:GCAP) opened at 7.01 on Wednesday. The company has a market capitalization of $334.24 million, a price-to-earnings ratio of 63.73 and a beta of 0.29. The company’s 50-day moving average is $6.37 and its 200-day moving average is $7.05. GAIN Capital Holdings, Inc. has a 52-week low of $4.54 and a 52-week 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 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The business had revenue of $98.10 million for the quarter, compared to the consensus estimate of $98.70 million. GAIN Capital Holdings had a net margin of 3.21% and a return on equity of 2.86%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, analysts expect that GAIN Capital Holdings, Inc. will post $0.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 12th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.39%. The ex-dividend date is Monday, September 11th. GAIN Capital Holdings’s dividend payout ratio (DPR) is presently 104.35%.
GAIN Capital Holdings announced that its board has approved a stock buyback plan 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 repurchase up to 12.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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Several brokerages have recently weighed in on GCAP. TheStreet raised shares of GAIN Capital Holdings from a “c” rating to a “b-” rating in a research report on Monday. Jefferies Group LLC reissued a “buy” rating and issued a $8.50 price objective on shares of GAIN Capital Holdings in a research report on Friday, August 4th. Zacks Investment Research raised shares of GAIN Capital Holdings from a “strong sell” rating to a “hold” rating and set a $7.25 price objective on the stock in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $7.00 price objective on shares of GAIN Capital Holdings in a research report on Monday, May 15th.
In other GAIN Capital Holdings news, Director Christopher Warren Calhoun sold 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $7.00, for a total transaction of $105,000.00. Following the sale, the director now directly owns 40,149 shares of the company’s stock, valued at $281,043. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 37,701 shares of company stock worth $251,853. Insiders own 5.60% 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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