Knight Capital (NYSE:KCG) Board Plans to Meet Dec. 3 to Evaluate Takeover Offers – KCG, GCAP, ITG, GFIG

A person with knowledge about the matter stated that Knight Capital Group Inc’s (NYSE:KCG) board aims to meet on Dec 3 to start again appraising takeover bids from Getco LLC and Virtu Financial LLC, its second gathering in 5 days.

Another person said with knowledge about the issue reported that Directors evaluated offers on Saturday submitted Oct 28 without establishing a timeline for a verdict. The person further stated that the group is looking for its choices and has not ruled out keeping the corporation independent.

The cash-and-stock offer from Chicago-based Getco worth Knight Capital Group at $3.50 per share and retains its public listing, as shown in the filing 2 days earlier from the high-frequency trading company.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Gain Capital Holdings Inc (NYSE:GCAP) fell -1.56% to settle at $4.43, Investment Technology Group (NYSE:ITG) moved down -0.56% to end at $8.94 while GFI Group Inc. (NYSE:GFIG) jumped +2.95% to finish at $2.79 on Friday.

Knight Capital Group Inc. (NYSE:KCG) last session’s volume of 6.59 million shares was surprisingly higher than its average volume of 4.74 million shares. The stock after opening at $3.31 hit high price of $3.38 and then closed at $3.37 by scoring +0.30%.

The liquidity measure in recent quarter results of the company was debt to equity ratio was 1.40 and long-term debt to equity ratio remained at 0.28. The Company had total cash of $6.73 billion at hand and a book value per share as $6.70 in the most recent quarter.

The stock’s price volatility was 7.40% for a week and 4.71% for a month as well as price volatility’s Average True Range for 14 days was 0.16 and its beta remained at 0.12.

KCG generated revenue of $789.77 million in the previous twelve months and earned -$687.68 million. The Company showed a negative -39.66% in the net profit margin as well as in its operating margin which remained at -60.82%. Company’s annual sales growth for the past five years was 8.38%.

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