A leading research firm has predicted that shares in the parent company of one of the best CFD brokers will rise in early 2017.
Research by Zacks, a leading equity research firm for over 30 years, expects that earnings-per-share in Gain Capital Holdings – the owner of top CFD broker City Index – will be $0.09 when the firm announces its results in March 2017.
Brokers recommend buying City Index parent stock
The company acquired City Index – seen by many as the best CFD broker – for $118 million in late 2014. With a stock price currently around $6.35, Wall Street experts believe a reasonable price target for the stock is around $7.
The Average Brokerage Recommendation score for Gain Capital – which helps investors to determine what the consensus is on a given stock – is currently 2, where 1 is a ‘strong buy’ and 5 is a ‘strong sell’.
Board member of top CFD broker buys $54,497 of stock
The prediction of a rise in the value of Gain Capital shares comes after a board member at the top CFD broker purchased stock in the company.
Joe Schenk, former CEO of First New York Securities and Jefferies & Company, bought 10,000 shares in Gain Capital on Wednesday November 9th, to bring his total holdings to 87,619 shares.
The shares were purchased for an average amount of $5.4097 in a total transaction of $54,497. The shares purchased during the market dip have already seen a decent return as GCAP shares closed at $6.35 on 15 November.
The stock’s all-time high was the $13.11 seen on September 27th, 2013.
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