Zacks Investment Research Lowers KCG Holdings Inc. (KCG) to Hold
KCG Holdings Inc. (NYSE:KCG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “KCG Holdings, Inc. is a securities firm. It operates in three segments: Market Making, Global Execution Services and Corporate and Other. The company offers investors a range of services which designed to address trading needs across asset classes, product types and time zones. KCG Holdings, Inc. is headquartered in Jersey City, New Jersey. “
Several other research analysts have also commented on KCG. TheStreet upgraded KCG Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, May 25th. Barclays PLC set a $15.00 target price on KCG Holdings and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Finally, Buckingham Research started coverage on KCG Holdings in a research report on Tuesday, June 7th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.25.
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Shares of KCG Holdings (NYSE:KCG) traded up 0.99% on Tuesday, reaching $14.34. The company had a trading volume of 260,018 shares. The stock has a 50 day moving average price of $14.56 and a 200-day moving average price of $13.52. KCG Holdings has a 12 month low of $10.03 and a 12 month high of $15.21. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 14.50 and a beta of 1.52.
KCG Holdings (NYSE:KCG) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. KCG Holdings had a return on equity of 7.42% and a net margin of 6.75%. The firm earned $319 million during the quarter, compared to analyst estimates of $280.16 million. During the same quarter last year, the firm earned ($0.18) EPS. KCG Holdings’s quarterly revenue was up 22.1% on a year-over-year basis. Analysts forecast that KCG Holdings will post $0.23 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of KCG Holdings during the second quarter valued at about $178,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of KCG Holdings by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,283,410 shares of the company’s stock valued at $15,337,000 after buying an additional 6,596 shares during the period. Geode Capital Management LLC increased its stake in shares of KCG Holdings by 5.7% in the first quarter. Geode Capital Management LLC now owns 404,316 shares of the company’s stock valued at $4,831,000 after buying an additional 21,891 shares during the period. Prudential Financial Inc. bought a new stake in shares of KCG Holdings during the first quarter valued at about $1,219,000. Finally, Spark Investment Management LLC bought a new stake in shares of KCG Holdings during the first quarter valued at about $507,000. 81.35% of the stock is currently owned by institutional investors and hedge funds.
About KCG Holdings
KCG Holdings, Inc is a holding company. The Company is an independent securities company offering investors a range of services designed to address trading needs across asset classes, product types and time zones. The Company combines technology with client service across market making, agency execution and venues.
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