Conduit (LON:CRE) Reaches New 1-Year Low - Here's What Happened

Key Points

• Conduit Holdings Limited reached a new 52-week low, trading as low as GBX 296 ($3.98), with a significant trading volume of over 1 million shares.
• Analysts have mixed opinions on Conduit, with Royal Bank of Canada lowering their price target to GBX 300 ($4.03) while Berenberg Bank maintains a "buy" rating with a price target of GBX 700 ($9.40).
• Insider Neil David Eckert purchased 1,850 shares at an average price of GBX 369 ($4.96), indicating confidence in the company as insiders own 6.19% of the stock.

Conduit Holdings Limited (LON:CRE - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as GBX 296 ($3.98) and last traded at GBX 298 ($4.00), with a volume of 1039303 shares trading hands. The stock had previously closed at GBX 302 ($4.06).

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada lowered their price objective on shares of Conduit from GBX 400 ($5.37) to GBX 300 ($4.03) and set a "sector perform" rating for the company in a report on Thursday, July 31st. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 700 ($9.40) price objective on shares of Conduit in a research note on Wednesday, July 30th.

Conduit Stock Performance

The company has a fifty day moving average price of GBX 369.65 and a two-hundred day moving average price of GBX 376.48. The company has a market cap of £596.11 million, a P/E ratio of 2.80 and a beta of 0.52.

Insider Buying and Selling

In related news, insider Neil David Eckert purchased 1,850 shares of the company's stock in a transaction dated Friday, May 16th. The shares were purchased at an average cost of GBX 369 ($4.96) per share, with a total value of £6,826.50 ($9,169.24). 6.19% of the stock is currently owned by corporate insiders.

Conduit Company Profile

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.

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