Moonpig Group (LON:MOON) to Repurchase £32.50 million in Stock

Key Points

• Moonpig authorized a £32.5 million share buyback, allowing it to repurchase up to 3.9% of its shares through open-market purchases.
• Analysts have a “Moderate Buy” consensus on the stock, with an average price target of GBX 289.17; five analysts rate it Buy and one rates it Hold.
• Moonpig shares traded at GBX 287, while insider Andy MacKinnon recently sold 173,645 shares for approximately £472,314.

Moonpig Group (LON:MOON - Get Free Report) announced that its board has authorized a share buyback program on Tuesday, November 3rd, RTT News reports. The company plans to repurchase £32.50 million in shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 300 price target on shares of Moonpig Group in a research note on Wednesday, September 16th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Moonpig Group currently has a consensus rating of "Moderate Buy" and an average target price of GBX 289.17.

Moonpig Group Stock Performance

Shares of MOON stock traded up GBX 1.20 on Tuesday, reaching GBX 287. The stock had a trading volume of 462,978 shares, compared to its average volume of 4,757,837. The company has a 50 day simple moving average of GBX 276.75 and a 200 day simple moving average of GBX 240.96. The company has a debt-to-equity ratio of -216.13, a quick ratio of 0.46 and a current ratio of 0.21. The stock has a market cap of £846.97 million, a P/E ratio of 18.40 and a beta of 0.93. Moonpig Group has a 1 year low of GBX 193.40 and a 1 year high of GBX 301.40.

Insider Transactions at Moonpig Group

In other Moonpig Group news, insider Andy MacKinnon sold 173,645 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of GBX 272, for a total value of £472,314.40. Corporate insiders own 2.76% of the company's stock.

Moonpig Group Company Profile

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. The Moonpig brand also operates in Ireland, Australia and the United States. The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.

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