Seeking Alpha

GAIN Capital Holdings, Inc. (GCAP)

  • Oct. 31, 2014, 8:18 AM
    • An online trading firm, City Index specializes in CFDs, forex, and U.K. spread betting. The purchase price is $118, but includes $36M on City's balance sheet.
    • Terms: $20M in cash, $60M of convertible notes, and the issuance of about 5.3M GCAP shares. In addition to the $36M of cash on City's books, the company also has $65M of NOLs which can be carried forward. The deal is expected to close in Q1.
    • Q3 preliminary results for GAIN Capital: Net revenues of $102.8M up 69% Y/Y. Adjusted EBITDA of $26.6M up 120%; cash earnings per share of $0.40 up 124%. Full report on Nov. 6.
    • Conference call at 8 ET
    • Source: Press Release
    | Oct. 31, 2014, 8:18 AM | Comment!
  • Apr. 7, 2014, 8:43 AM
    • "Galvan Research gives us a solid foundation on which to build a comprehensive advisory service for our clients," says Gain Capital (GCAP) CEO Glenn Stevens, announcing the purchase of Galvan - the U.K.'s leading Contract for Difference (CFD) advisory business.
    • "We are committed to delivering value-added services to help our clients make informed trading decisions, and high quality trading ideas and advice are a core part of this strategy."
    • Gain expects the deal to close in Q2 and be immediately accretive to 2014 results.
    • Press release
    | Apr. 7, 2014, 8:43 AM | Comment!
  • Apr. 26, 2013, 4:01 PM
    Gain Capital Holdings (GCAP -6.6%) falls after FXCM withdraws its acquisition proposal. GCAP's acquisition of Global Futures and Forex consumed enough cash to "fundamentally impact the balance sheet and capital synergies that were an important driver of our proposal," says FXCM CEO Drew Niv. The merger would have combined two of the largest U.S.-based players in online currency trading.
    | Apr. 26, 2013, 4:01 PM | Comment!
  • Apr. 9, 2013, 12:40 PM
    FXCM's (FXCM +2.3%) bid for Gain Capital (GCAP +26%) would merge two of largest U.S.-based players in online FX trading, as FXCM pushes for organic growth in an industry that has grown rapidly over the past decade but is now challenged by tighter regulation and waning profits. Retail trading currently accounts for about 6% of the $4T per day currency market, and FXCM reported earlier today that its retail and institutional volumes fell in March on both a Y/Y and M/M comparisons.
    | Apr. 9, 2013, 12:40 PM | Comment!
  • Apr. 9, 2013, 2:07 AM
    FXCM (FXCM) offers to acquire fellow online forex trading platform Gain Capital Holdings (GCAP) for $210.4M in stock, with the offer of $5.35/share representing a premium of 25% on Gain's closing price of $4.27 yesterday. FXCM is also willing to include a cash option of up to $50M rather than stock. FXCM expects the deal to be accretive to earnings by next year, excluding restructuring costs. (PR)
    | Apr. 9, 2013, 2:07 AM | Comment!
GCAP vs. ETF Alternatives
Company Description
GAIN Capital Holdings Inc is engaged in providing trading services and solutions in over-the-counter, or OTC, and exchange-traded markets. It offers financial products, including foreign exchange, or forex, and precious metals.