Cavalier Capital Adopts New Name, Splits Stock

Encino-based Cavalier Capital Corp. adopted the name of its main operating unit, Los Angeles Securities Group, and announced a 1-for-50 reverse stock split effective last Thursday.

The company, whose small brokerage firm trades about 80 over-the-counter stocks, reduced its shares outstanding to about 1.5 million to raise the price. It also hopes to increase its base of shareholders beyond the 500 it has now, said Dennis Belli, a vice president.

The company named a new president, Henry Dahlgren, 51, previously executive vice president. Belli, the previous president of the parent firm, remains president of the Los Angeles Group operating unit.

Los Angeles Securities has 15 employees and offices in Encino and New York, Belli said. Los Angeles Group was formed in January, 1984, and went public in February, 1985, by merging with Cavalier, a shell company.

It earned $15,000 on revenue of $219,000 during its first quarter ended Dec. 31. Belli said the company had gross commissions of about $600,000 for the six months ended March 31, but expects a significant increase during the next 60 days.