Palace Capital (LON:PCA) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Palace Capital Plc (LON:PCA) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 184.76 and traded as low as GBX 175. Palace Capital shares last traded at GBX 175, with a volume of 2,280 shares changing hands.

Palace Capital Stock Up 4.3%

The firm has a market capitalization of £35.63 million, a PE ratio of -7.10, a price-to-earnings-growth ratio of 3.37 and a beta of 0.14. The firm has a 50-day moving average price of GBX 172.90 and a 200 day moving average price of GBX 184.76.

Palace Capital (LON:PCA) last issued its quarterly earnings results on Thursday, June 11th. The company reported GBX (0.30) earnings per share (EPS) for the quarter. Palace Capital had a negative return on equity of 11.17% and a negative net margin of 67.58%.The business had revenue of GBX 355 million for the quarter. Equities research analysts expect that Palace Capital Plc will post 14.477562 earnings per share for the current year.

Palace Capital announced that its board has initiated a share repurchase plan on Friday, April 17th that authorizes the company to repurchase 400,000,000,000 outstanding shares. This repurchase authorization authorizes the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors 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