Lucid Markets principal Matthew Wilhelm sells (another) $8.6 million of FXCM shares in February


FXCM bought 50% of institutional FX market maker Lucid in 2012 for $176 million, paid mainly in FXCM stock.

LeapRate Exclusive…. LeapRate has learned, via a series of filings made with the U.S. Securities and Exchange Commission (SEC), that Lucid Markets principal Matthew Wilhelm has sold about $8.6 million worth of FXCM shares during the month of February (see table below).

As we reported earlier, Wilhelm sold about $19 million of his FXCM stock between August and January, bringing his total cash take over the past six months to more than $27 million. FXCM acquired 50% of Lucid Markets in June 2012 for $176 million, paid mainly in FXCM stock (NYSE:FXCM).

Matthew Wilhelm Lucid FXCM shares sold Feb 2014

Wilhelm and the other Lucid shareholders have done well by taking back FXCM shares for their company. At the time of the Lucid acquisition, FXCM shares were trading in the $10-11 range. Wilhelm’s share sales have been done mainly in the $16-19 range. Wilhelm still owns about 3.8 million FXCM shares, worth at today’s share price about $62 million.

FXCM share price past two years Feb 2014

FXCM share price, January 2012 to present. Source: Google Finance.

 For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

Related News

arrow

Lucid Markets principal Matthew Wilhelm sells (another) $8.6 million of FXCM shares in February

0

Send this to a friend