IG Group (LON:IGG) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,091.93 and traded as high as GBX 1,132. IG Group shares last traded at GBX 1,122, with a volume of 18,783,266 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Peel Hunt reiterated a “buy” rating and issued a GBX 340 price target on shares of IG Group in a research report on Thursday, October 16th. Shore Capital reiterated a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a research report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of IG Group from GBX 1,225 to GBX 1,350 and gave the stock a “buy” rating in a research report on Friday, August 8th. Jefferies Financial Group restated a “buy” rating and set a GBX 1,250 price objective on shares of IG Group in a report on Friday, September 26th. Finally, Royal Bank Of Canada boosted their price objective on IG Group from GBX 1,150 to GBX 1,275 and gave the stock an “outperform” rating in a report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 1,309.14.

IG Group Trading Down 0.2%

The company has a fifty day simple moving average of GBX 1,104.10 and a 200-day simple moving average of GBX 1,091.93. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. The stock has a market cap of £3.88 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of -1.44 and a beta of 0.55.

IG Group announced that its board has initiated a stock buyback program on Thursday, September 4th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other IG Group news, insider Wu Gang bought 5,576 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were bought at an average price of GBX 1,071 per share, for a total transaction of £59,718.96. Also, insider Breon Corcoran bought 61,499 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was acquired at an average price of GBX 1,075 per share, for a total transaction of £661,114.25. Insiders have acquired 85,576 shares of company stock worth $91,889,391 in the last 90 days. Company insiders own 1.13% of the company’s stock.

IG Group Company Profile

IG Group?(LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to?power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients.