Insider Selling: Michael Gooch Sells 100,000 Shares of GFI Group Stock (GFIG)
GFI Group (NASDAQ:GFIG) major shareholder Michael Gooch sold 100,000 shares of GFI Group stock on the open market in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $3.81, for a total transaction of $381,000.00. Following the completion of the sale, the insider now directly owns 193,024 shares in the company, valued at approximately $735,421. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of GFI Group (NASDAQ:GFIG) traded up 0.27% on Friday, hitting $3.66. 229,871 shares of the company’s stock traded hands. GFI Group has a 1-year low of $2.38 and a 1-year high of $4.58. The stock’s 50-day moving average is $4.01 and its 200-day moving average is $3.96. The company’s market cap is $441.5 million.
GFI Group (NASDAQ:GFIG) last released its earnings data on Thursday, July 25th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $241.10 million for the quarter, compared to the consensus estimate of $246.57 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis.
GFIG has been the subject of a number of recent research reports. Analysts at BMO Capital Markets upgraded shares of GFI Group (NASDAQ:GFIG) from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, September 3rd. They now have a $4.50 price target on the stock. Analysts at Zacks upgraded shares of GFI Group (NASDAQ:GFIG) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, July 30th. They now have a $4.60 price target on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. GFI Group presently has a consensus rating of “Buy” and a consensus target price of $4.57.
GFI Group Inc (NASDAQ:GFIG) is a provider of wholesale brokerage services, clearing services and electronic execution and trading support products for global financial markets.
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