Conduit (LON:CRE) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

Conduit Holdings Limited (LON:CRE - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 409.30 ($5.55) and traded as low as GBX 377.71 ($5.12). Conduit shares last traded at GBX 385.52 ($5.23), with a volume of 550,556 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank restated a "buy" rating and set a GBX 700 ($9.50) price objective on shares of Conduit in a report on Monday, March 31st.

Conduit Stock Performance

The firm has a market cap of £767.00 million, a PE ratio of 3.60 and a beta of 0.52. The stock has a fifty day moving average price of GBX 363.28 and a 200-day moving average price of GBX 409.30.

Insider Activity

In related news, insider Trevor Carvey purchased 70,000 shares of Conduit stock in a transaction that occurred on Tuesday, April 1st. The shares were purchased at an average cost of GBX 340 ($4.61) per share, with a total value of £238,000 ($322,930.80). Also, insider Neil David Eckert acquired 1,850 shares of the stock in a transaction on Friday, May 16th. The stock was purchased at an average cost of GBX 369 ($5.01) per share, with a total value of £6,826.50 ($9,262.55). In the last 90 days, insiders have acquired 163,916 shares of company stock valued at $56,657,424. Company insiders own 6.19% of the company's stock.

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.