CEMEX, S.A.B. de C.V. (NYSE:CX) retreated its position after shares change of -1.75% on Thursday and it traded at $8.98. The 52-week high of the share price is -13.40% and 52-week low of the share price is 29.89%.
GrupoCementos de Chihuahua, S.A.B. de C.V. informed the market that CEMEX, S.A.B de C.V (CX) sold all its remaining direct equity position in GCC—31,483,332 shares, representing around 9.47% of GCC´s shares—to two financial institutions. CEMEX also informed GCC that it entered into 18-month equity forward contracts with respect to the GCC shares.
GCC’s Chief Financial Officer, Luis Carlos Arias said: “Increasing share liquidity is one of management’s main financial objectives. We believe that ’s transaction will benefit GCC’s public market shareholders by increasing the total share float in the foreseeable future and consequently trading volumes.” Since the February re-IPO, through which CEMEX sold GCC shares representing around 13.53% of outstanding shares, the average daily trading volume of GCC stock on the Mexican Stock Exchange has surged to around 300,000 shares per day, from almost zero before.
GCC is not a party to these forward equity contracts, which enable CEMEX to retain exposure to GCC’s stock price. The transactions have an 18-month tenor with the option to unwind them early. These transactions do not affect CEMEX’s minority, indirect ownership interest in CAMCEM, the holder of 51.62% of GCC’s capital stock.
The shares performance of CX was -1.54% for the last one month and -3.85% in the previous week, whereas year to date performance was calculated 16.30%. The goal of share performance is to compare managers to the interests of shareholders. Their goal is alike to employee stock-option plans, as they offer an explicit incentive for management to focus their efforts on maximizing shareholder value. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at 19.10%. Investors looking further ahead will note that the Price to next year’s EPS is 18.09%.
In latest trading session, Tintri, Inc. (NASDAQ:TNTR) surged 2.41% with 1.52 Million trading volume. A leading provider of enterprise cloud platforms, Tintri Inc. (NASDAQ:TNTR) reported the availability of solutions specifically suited to ROBO, smaller VDI introduces and departmental use cases. These solutions will be sold exclusively via Tintri’s channel partners, composed of Tintri’s new T1000 all-flash storage and highly differentiated software.
Tintri Inc. (NASDAQ:TNTR), a leading provider of enterprise cloud platforms, reported the availability of solutions specifically suited to ROBO, smaller VDI introduces and departmental use cases. These solutions will be sold exclusively via Tintri’s channel partners—composed of Tintri’s new T1000 all-flash storage and highly differentiated software.
TNTR has the current ratio of 1.30 for the most latest quarter. As concerns shares volumes, in share Capital Company has 30.70 million outstanding shares among them 28.66 million shares have been floated in market exchange. The firm’s institutional ownership remained 63.80% while insider ownership included 9.00%.