Conduit (LON:CRE) Shares Down 0.5% - Time to Sell?

Key Points

• Conduit Holdings Limited (LON:CRE) saw its shares decline by 0.5% during trading, reaching GBX 384 ($5.13) with a trading volume that was 32% lower than its average.
• Berenberg Bank maintained a "buy" rating for Conduit and set a target price of GBX 700 ($9.35) per share.
• Insider Neil David Eckert purchased 1,850 shares at GBX 369 ($4.93), indicating confidence in the company as corporate insiders own 6.19% of the stock.

Shares of Conduit Holdings Limited (LON:CRE - Get Free Report) traded down 0.5% during mid-day trading on Wednesday . The stock traded as low as GBX 381.50 ($5.06) and last traded at GBX 384 ($5.10). 575,595 shares changed hands during trading, a decline of 32% from the average session volume of 848,705 shares. The stock had previously closed at GBX 386 ($5.12).

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRE. Berenberg Bank restated a "buy" rating and issued a GBX 700 ($9.29) price objective on shares of Conduit in a report on Wednesday. Royal Bank Of Canada decreased their price objective on shares of Conduit from GBX 400 ($5.31) to GBX 300 ($3.98) and set a "sector perform" rating for the company in a report on Thursday.

Conduit Trading Up 1.6%

The firm has a market capitalization of £623.25 million, a PE ratio of 2.92 and a beta of 0.52. The business's 50 day simple moving average is GBX 378.14 and its two-hundred day simple moving average is GBX 383.79.

Insider Activity at Conduit

In related news, insider Neil David Eckert acquired 1,850 shares of Conduit stock in a transaction dated Friday, May 16th. The stock was purchased at an average cost of GBX 369 ($4.90) per share, for a total transaction of £6,826.50 ($9,060.92). 6.19% of the stock is owned by company 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.