GAIN Capital Holdings Inc (NYSE: GCAP) board member Mr. Joe Schenk according to a newly published Form 4 has purchased 10,000 shares of GAIN Capital stock to bring his total holdings to 87,619 shares.
The shares were purchased for an average amount of $5.4097 (total: $54,497). The shares purchased during the market dip on Wednesday, November 9th have already seen a decent return as GCAP shares closed Thursday at $5.67, up 4.42% on the day among a broader equities rally.
The total market value of Mr. Schenk’s shares are around $496,799 at Thursday’s market closing stock price.
Is this a good time to get into Gain Capital stock? The global brokerage firm’s shares have recently been hovering at all-time lows, the all-time high in the stock was $13.11 on September 27th, 2013.
Mr. Schenk was former CEO at First New York Securities (2009-2012) and CEO of Jefferies & Company (1992-2008). He is also currently on the board of directors at a couple other companies including The Westaim Corporation and Arena Investors.