IG Group (LON:IGG) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

IG Group Holdings plc (LON:IGG)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 859.67 ($11.16) and traded as high as GBX 940 ($12.20). IG Group shares last traded at GBX 927.50 ($12.04), with a volume of 421,776 shares changing hands.

Wall Street Analyst Weigh In

IGG has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of IG Group from GBX 1,000 ($12.98) to GBX 1,100 ($14.28) and gave the company an “outperform” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 1,065 ($13.83) price objective on shares of IG Group in a research report on Wednesday, August 14th. Finally, Shore Capital reaffirmed a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, IG Group currently has a consensus rating of “Buy” and a consensus price target of GBX 986.75 ($12.81).

IG Group Stock Down 0.1 %

The firm’s 50 day simple moving average is GBX 943.73 and its two-hundred day simple moving average is GBX 861.53. The firm has a market cap of £3.33 billion, a price-to-earnings ratio of 1,188.46, a PEG ratio of -1.44 and a beta of 0.55. The company has a current ratio of 2.31, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04.

Insider Buying and Selling

In other news, insider Breon Corcoran bought 40,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of GBX 916 ($11.89) per share, for a total transaction of £366,400 ($475,720.59). 4.44% of the stock is currently owned by company insiders.

IG Group Company Profile

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.