Moonpig Group (LON:MOON) Board of Directors Announces Stock Buyback Plan

Moonpig Group (LON:MOON) declared that its Board of Directors has initiated a share buyback plan on Friday, November 7th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on MOON. UBS Group reaffirmed a “buy” rating and issued a GBX 360 price target on shares of Moonpig Group in a research report on Friday, September 5th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 300 target price on shares of Moonpig Group in a report on Thursday, September 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 310 price target on shares of Moonpig Group in a report on Wednesday, September 17th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 300.33.

Moonpig Group Stock Performance

MOON traded down GBX 2 during midday trading on Friday, hitting GBX 204. 978,813 shares of the company traded hands, compared to its average volume of 1,947,898. The company’s 50-day moving average is GBX 212.63 and its 200 day moving average is GBX 223.31. The company has a quick ratio of 0.46, a current ratio of 0.24 and a debt-to-equity ratio of 3,511.31. The firm has a market capitalization of £651.97 million, a PE ratio of -63.75 and a beta of 1.24. Moonpig Group has a 52 week low of GBX 188.40 and a 52 week high of GBX 277.50.

About Moonpig Group

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences.