Zacks Investment Research Downgrades KCG Holdings Inc. (KCG) to Sell
KCG Holdings Inc. (NYSE:KCG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. “
KCG has been the topic of several other reports. Barclays PLC set a $15.00 target price on shares of KCG Holdings and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Buckingham Research began coverage on shares of KCG Holdings in a research report on Tuesday, June 7th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.25.
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Shares of KCG Holdings (NYSE:KCG) traded down 0.26% during midday trading on Tuesday, hitting $15.39. 267,825 shares of the company’s stock were exchanged. KCG Holdings has a 1-year low of $10.03 and a 1-year high of $15.70. The stock has a market cap of $1.33 billion, a PE ratio of 15.56 and a beta of 1.50. The stock’s 50 day moving average is $14.75 and its 200-day moving average is $13.84.
KCG Holdings (NYSE:KCG) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. KCG Holdings had a net margin of 6.75% and a return on equity of 7.42%. The company had revenue of $319 million for the quarter, compared to analysts’ expectations of $280.16 million. During the same period last year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts predict that KCG Holdings will post $0.23 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of KCG Holdings by 4.9% in the second quarter. Legal & General Group Plc now owns 9,350 shares of the company’s stock worth $123,000 after buying an additional 438 shares during the period. Teacher Retirement System of Texas boosted its position in shares of KCG Holdings by 71.3% in the second quarter. Teacher Retirement System of Texas now owns 9,521 shares of the company’s stock worth $127,000 after buying an additional 3,962 shares during the period. Quantitative Systematic Strategies LLC boosted its position in shares of KCG Holdings by 31.3% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,181 shares of the company’s stock worth $224,000 after buying an additional 4,100 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of KCG Holdings by 12.7% in the second quarter. UBS Asset Management Americas Inc. now owns 54,003 shares of the company’s stock worth $719,000 after buying an additional 6,086 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position 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 worth $15,337,000 after buying an additional 6,596 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.
KCG Holdings Company Profile
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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