Brokers News

As part of our broker monitoring, FinFeed advised in mid-August that Ivor Ries from Morgans CIMB had upgraded Praemium’s (ASX: PPS) share price target from 49 cents to 57 cents after the company exceeded his profit expectations. This implied share price upside of 40% at that time.

Ries also upgraded forward earnings estimates with the expectation that the company would use its relatively robust balance sheet to continue to invest in technology which would make it more competitive in the self-managed superannuation accounts segment.

New rules in China aimed at curbing risk and speculation have triggered an exodus of institutional cash from the country’s commodities futures markets and hobbled a thriving niche business for brokers.

GreenKey, creator of an award-winning voice workspace platform for global financial market participants, announced the launch of a mobile application for iOS and Android devices next month.

A.P. Reid Insurance Ltd. has recently announced plans to acquire Robinson Insurance Brokers of Edmonton.

Robinson’s brokerage operations will integrate under the A.P. Reid brand effective November 01. Daniel Robinson, current president and owner of Robinson, will remain as the team’s western region manager. A.P. Reid’s Edmonton office and the Robinson office will combine to create a western regional office to be led by both Robinson and A.P. Reid western business development manager Kathleen Corkum. All Robinson staff is expected to remain.

The consensus on GoPro (GPRO) based on 14 analyst recommendation on the company stock is 2.86, which is interpreted as a Hold recommendation.

Since its founding in 2008, Sherman Bridge Lending, a Dallas-based real estate brokerage firm, has been providing hard money loans for property investments. Now, the company is broadening their reach with the announcement of a new initiative.

Zacks is expecting mean Earnings Per Share (EPS) of $0.4 (£0.30) for Interactive Brokers Group, Inc. (NASDAQ:IBKR) as of 2017-09-30. This will be for the year ended 2017. The $0.395 (£0.30) is predicted to be the median EPS. 2 analysts estimates is what is applied in the calculation of estimate with the mean estimate from the 2 research firms being the base number. Nonetheless, the research firms must have had a recent issue of reports on the company.

At least one investment bank is learnt to have pitched Genting Group on a potential block trade of its stake in Star Entertainment Group in the past week, according to sources.

Genting, which controls Asia’s second-biggest gaming company, Genting Singapore, and is owned by Malaysian gaming mogul KT Lim, holds a 6.6 per cent stake in Star Entertainment (the rebadged Echo Entertainment). It has been approved to purchase up to 23 per cent.

TRB Realty (TRB) negotiated the $23.65 million (£17.89 million) sale of the 184-room Magnuson Hotel Framingham and the British Beer Company restaurant at 120 & 130 Worcester Rd. (Rte. 9). The sale included the 96,206 s/f hotel and the 6,863 s/f freestanding restaurant all on 5 acres. The seller was 120 Worcester Corp. The buyer declined to be identified.

The Securities and Exchange Commission has penalized six local stock brokerage houses, citing failure to comply with requirements under the 2015 implementing rules and regulations of the Securities Regulation Code, some provisions of which are still being disputed in court.