Forge Global Stock to Reverse Split on Tuesday, April 15th (NYSE:FRGE)

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) are going to reverse split on the morning of Tuesday, April 15th. The 1-15 reverse split was announced on Monday, March 31st. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, April 14th.

Forge Global Trading Up 4.4 %

FRGE stock opened at $0.60 on Thursday. The stock has a market cap of $112.08 million, a PE ratio of -1.39 and a beta of 2.21. The stock has a 50-day moving average price of $0.76 and a two-hundred day moving average price of $0.96. Forge Global has a 1 year low of $0.54 and a 1 year high of $2.53.

Forge Global declared that its board has authorized a stock repurchase plan on Wednesday, March 5th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. restated an “underweight” rating on shares of Forge Global in a research note on Tuesday, January 7th.

Insiders Place Their Bets

In other Forge Global news, CEO Kelly Rodriques sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total value of $40,000.00. Following the transaction, the chief executive officer now directly owns 8,030,213 shares of the company’s stock, valued at $6,424,170.40. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jennifer Phillips sold 159,108 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.00, for a total transaction of $159,108.00. Following the sale, the executive now owns 604,728 shares in the company, valued at $604,728. This represents a 20.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in Forge Global by 355.4% during the 4th quarter. Jane Street Group LLC now owns 685,172 shares of the company’s stock worth $638,000 after purchasing an additional 534,717 shares in the last quarter. AWM Investment Company Inc. acquired a new position in Forge Global in the 4th quarter worth about $409,000. Renaissance Technologies LLC raised its holdings in Forge Global by 325.2% in the 4th quarter. Renaissance Technologies LLC now owns 456,323 shares of the company’s stock valued at $425,000 after buying an additional 348,997 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Forge Global by 341.0% during the fourth quarter. JPMorgan Chase & Co. now owns 381,805 shares of the company’s stock valued at $355,000 after acquiring an additional 295,235 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Forge Global during the 4th quarter worth about $226,000. Institutional investors own 40.67% of the company’s stock.

Forge Global Company Profile

Forge Global Holdings, Inc operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal.