Shares of ZAIS Group Holdings, Inc. (NASDAQ:ZAIS) ended Thursday session in green amid volatile trading. The shares closed up +0.02 points or 0.94% at $2.14 with 5,057.00 shares getting traded. Post opening the session at $2.18, the shares hit an intraday low of $2.12 and an intraday high of $2.18 and the price vacillated in this range throughout the day. The company has a market cap of $29.47 million and the numbers of outstanding shares have been calculated to be 13.90 million shares.
ZAIS Group Holdings, Inc. (ZAIS) on Aug. 9, 2016 reported financial results for the three and six months ended June 30, 2016. ZAIS conducts substantially all of its operations through ZAIS Group, LLC (“ZAIS Group”). ZAIS Group provides investment advisory and asset management services to private funds, separately managed accounts, structured vehicles and ZAIS Financial Corp., a publicly traded real estate investment trust (collectively, the “ZAIS Managed Entities”). References to the “Company” herein refer to ZAIS, together with its consolidated subsidiaries and affiliates.
Michael F. Szymanski, Chief Executive Officer, said, “We continue to seek business development opportunities and remain active in the development of new products to meet investor interest in the structured credit market. We are pleased to have closed the $280 million ZAIS CLO 4, Limited in the 2nd quarter.”
CONSOLIDATED GAAP RESULTS
The Company recorded a GAAP net loss for the three months ended June 30, 2016 of $(4.9) million compared with a GAAP net loss of $(5.2) million for the three months ended June 30, 2015. The decrease in the net loss of $0.3 million was driven primarily by a decrease in revenue of $1.6 million which was largely offset by a decrease in expenses of $1.2 million, a net gain in consolidated funds in the current period of $2.2 million and a $1.7 million decrease in the tax benefit due to the establishment of a full tax valuation allowance at December 31, 2015. The Company recorded a pre-tax GAAP net loss for the three months ended June 30, 2016 of $(4.9) million compared with a pre-tax GAAP net loss for the three months ended June 30, 2015 of $(6.9) million.
The consolidated financial statements include non-controlling interests of the members of ZAIS Group Parent, LLC (“ZGP”) other than ZAIS (the “ZGP Founder Members”) which represent Class A Units of ZGP held by the ZGP Founder Members. ZGP, a majority-owned consolidated subsidiary of ZAIS, is the sole member, and owns all of the equity, of ZAIS Group.
Shares of ICICI Bank Ltd (ADR) (NYSE:IBN) ended Thursday session in red amid volatile trading. The shares closed down -0.11 points or -1.31% at $8.26 with 8.05 million shares getting traded. Post opening the session at $8.30, the shares hit an intraday low of $8.21 and an intraday high of $8.32 and the price vacillated in this range throughout the day. The company has a market cap of $24.51 billion and the numbers of outstanding shares have been calculated to be 5.82 billion shares.
ICICI Bank Ltd (ADR) (IBN), together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, other accounts; and fixed, recurring, fixed, and security deposits. It also provides home, car, personal, gold, and commercial business loans, as well as loans against securities and other loans; business loans, such as cash credit/overdrafts for working capital requirement, export credit, term loans, letters of credit, and bank guarantees; and credit, debit, prepaid, travel, and corporate cards.