GAIN Capital Holdings, Inc. (GCAP) Sees Large Increase in Short Interest
GAIN Capital Holdings, Inc. (NYSE:GCAP) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,336,535 shares, a growth of 118.1% from the August 15th total of 1,529,683 shares. Based on an average daily volume of 589,200 shares, the days-to-cover ratio is currently 5.7 days. Currently, 12.8% of the shares of the stock are sold short.
Shares of GAIN Capital Holdings (NYSE:GCAP) opened at 6.40 on Tuesday. The firm has a 50-day moving average price of $6.54 and a 200 day moving average price of $6.76. The stock has a market capitalization of $302.34 million, a PE ratio of 28.07 and a beta of 0.33. GAIN Capital Holdings has a one year low of $4.54 and a one year high of $8.75.
GAIN Capital Holdings (NYSE:GCAP) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $98.10 million during the quarter, compared to the consensus estimate of $98.70 million. GAIN Capital Holdings had a return on equity of 2.85% and a net margin of 3.21%. GAIN Capital Holdings’s revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. On average, equities analysts expect that GAIN Capital Holdings will post $0.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 12th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, September 11th. GAIN Capital Holdings’s payout ratio is 104.35%.
In other news, major shareholder Ltd Ipgl purchased 36,675 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of $6.25 per share, for a total transaction of $229,218.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher Warren Calhoun sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $6.39, for a total value of $31,950.00. Following the sale, the director now owns 50,149 shares of the company’s stock, valued at $320,452.11. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 200,000 shares of company stock valued at $1,244,594 and have sold 40,000 shares valued at $270,078. 5.60% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Martingale Asset Management L P purchased a new position in GAIN Capital Holdings during the first quarter worth $126,000. Eagle Global Advisors LLC purchased a new position in GAIN Capital Holdings during the first quarter worth $153,000. Principal Financial Group Inc. purchased a new position in GAIN Capital Holdings during the second quarter worth $119,000. American International Group Inc. increased its position in GAIN Capital Holdings by 7.0% during 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 in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in GAIN Capital Holdings by 18.5% during 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 in the last quarter. 53.45% of the stock is owned by institutional investors.
Several brokerages recently commented on GCAP. TheStreet upgraded GAIN Capital Holdings from a “c” rating to a “b-” rating in a research report on Monday, August 7th. BidaskClub cut GAIN Capital Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $8.50 price target (down from $9.00) on shares of GAIN Capital Holdings in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded GAIN Capital Holdings from a “strong sell” rating to a “hold” rating and set a $7.25 target price for the company in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. GAIN Capital Holdings currently has a consensus rating of “Hold” and an average price target of $7.58.
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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