Conduit (LON:CRE) Share Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Conduit Holdings Limited (LON:CRE - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 413.55 ($5.62) and traded as low as GBX 385.38 ($5.23). Conduit shares last traded at GBX 390 ($5.30), with a volume of 167,278 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 700 ($9.51) target price on shares of Conduit in a report on Monday, March 31st.

Conduit Stock Down 0.9%

The firm has a market capitalization of £777.05 million, a price-to-earnings ratio of 3.65 and a beta of 0.52. The business has a 50-day moving average of GBX 357.89 and a two-hundred day moving average of GBX 412.91.

Insider Transactions at Conduit

In related news, insider Elaine Whelan purchased 58,500 shares of Conduit stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of GBX 341 ($4.63) per share, for a total transaction of £199,485 ($270,892.18). Also, insider Neil David Eckert purchased 1,650 shares of Conduit stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average price of GBX 369 ($5.01) per share, for a total transaction of £6,088.50 ($8,267.93). In the last quarter, insiders have bought 163,916 shares of company stock valued at $56,657,424. 6.19% of the stock is 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.