GAIN Capital’s (NYSE:GCAP) share prices exploded today on the back end of a buybacks and dividends announcement, just days after navigating a recent 52-week low ($4.54) – the news serves as a welcome reprieve for investors, many of which were jumping ship in recent months.
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Earlier this week, GAIN Capital (NYSE:GCAP) posted its Q3 financial results, which included a landmark $30 million buy back program, coupled with a 20% increase in dividends to $0.06 cents. The targeted changes were done as to help spark interest in long-term investors, many of whom have been perturbed by diving share prices over the past quarter, en route to a 52- week low this week.
However, the commitment to a more robust dividend illustrates a long-term value of holding GAIN’s shares. Subsequently, shares were up double digits in US trading Friday, vastly outperforming other indices and brokers. Despite this upbeat revelation, revenues were lower in Q3 2016, though were largely bound to a previously announced target range, helping allay investor concern.
At the time of writing, shares of GAIN Capital (NYSE:GCAP) stock are trading at $5.43, up 18.82% Friday during US trading.