Conduit (LON:CRE) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

Conduit Holdings Limited (LON:CRE – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 514.23 ($6.67) and traded as high as GBX 526 ($6.82). Conduit shares last traded at GBX 518 ($6.72), with a volume of 125,428 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CRE shares. Jefferies Financial Group upped their price target on shares of Conduit from GBX 710 ($9.21) to GBX 720 ($9.34) and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 675 ($8.75) price target on shares of Conduit in a research note on Thursday, August 1st.

Read Our Latest Stock Analysis on Conduit

Conduit Stock Performance

The stock has a market cap of £827.28 million, a P/E ratio of 520.79 and a beta of 0.52. The firm has a 50 day moving average of GBX 527.24 and a two-hundred day moving average of GBX 514.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.19 and a current ratio of 0.55.

Insider Activity

In related news, insider Stephen Redmond bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of GBX 530 ($6.87) per share, with a total value of £79,500 ($103,099.47). In other Conduit news, insider Trevor Carvey acquired 2,500 shares of Conduit stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of GBX 524 ($6.80) per share, with a total value of £13,100 ($16,988.72). Also, insider Stephen Redmond purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of GBX 530 ($6.87) per share, with a total value of £79,500 ($103,099.47). 6.19% of the stock is owned by company insiders.

Conduit Company Profile

(Get Free Report)

Conduit Holdings Limited, together with its subsidiaries, provides reinsurance products and services worldwide. It operates in three divisions: Property, Casualty, and Specialty. The property division offers catastrophe and non-catastrophe property reinsurance products. The Casualty division provides director's and officer's, financial institutions, general, professional, and transactional liability, as well as medical malpractice reinsurance products.

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