Palace Capital Plc (LON:PCA – Get Free Report)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 188.82 and traded as low as GBX 161.50. Palace Capital shares last traded at GBX 170, with a volume of 17,386 shares changing hands.
Palace Capital Stock Performance
The firm has a market capitalization of £33.37 million, a PE ratio of 19.88, a price-to-earnings-growth ratio of 3.37 and a beta of 0.17. The business’s 50 day moving average is GBX 188.82 and its two-hundred day moving average is GBX 202.41.
Palace Capital declared that its board has authorized a share repurchase plan on Friday, April 17th that allows the company to repurchase 400,000,000,000 shares. This repurchase authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
About Palace Capital
Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London
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