City of London Investment Group (LON:CLIG) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Key Points

• The shares of City of London Investment Group Plc (LON:CLIG) have fallen below their 200-day moving average, which is GBX 355.20 ($4.80).
• Insider Rian Dartnell bought 3,000 shares at GBX 346 ($4.67), while insider Thomas W. Griffith sold 400,000 shares at GBX 341 ($4.61), indicating active insider trading.
• The company has a market capitalization of £175.70 million and a price-to-earnings ratio of 11.69.

City of London Investment Group Plc (LON:CLIG - )'s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 355.20 ($4.80) and traded as low as GBX 355 ($4.80). City of London Investment Group shares last traded at GBX 363 ($4.90), with a volume of 93,068 shares.

City of London Investment Group Price Performance

The stock has a market cap of £175.70 million, a price-to-earnings ratio of 11.69 and a beta of 0.47. The stock's 50 day moving average price is GBX 355.99 and its two-hundred day moving average price is GBX 355.20. The company has a quick ratio of 2.68, a current ratio of 3.86 and a debt-to-equity ratio of 4.72.

Insiders Place Their Bets

In other news, insider Rian Dartnell purchased 3,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average cost of GBX 346 ($4.67) per share, with a total value of £10,380 ($14,021.34). Also, insider Thomas W. Griffith sold 400,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of GBX 341 ($4.61), for a total transaction of £1,364,000 ($1,842,496.29). Corporate insiders own 53.72% of the company's stock.

About City of London Investment Group

City of London Investment Group PLC is a United Kingdom-based asset management company, consisting of two wholly owned subsidiaries that invest primarily in closed-end funds for the benefit of their respective clients. The Company, through its subsidiary City of London Investment Management Company Limited (CLIM), historically specialized in Emerging Markets and has expanded its range to International, Opportunistic Value and Frontier strategies, for primarily institutional clients.

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