Conduit (LON:CRE) Shares Down 0.5% - Here's Why

Key Points

• Conduit Holdings Limited's stock price fell by 0.5% to GBX 384 ($5.13), with approximately 575,595 shares traded, representing a 32% decline from its average daily volume.
• Berenberg Bank has reaffirmed a "buy" rating for Conduit and set a price target of GBX 700 ($9.35) in their recent report.
• Insider Neil David Eckert purchased 1,850 shares at an average price of GBX 369 ($4.93), reflecting confidence in the company amid insider ownership of 6.19%.

Conduit Holdings Limited (LON:CRE - Get Free Report)'s share price traded down 0.5% during trading on Wednesday . The company traded as low as GBX 381.50 ($5.06) and last traded at GBX 384 ($5.10). 575,595 shares were traded 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 Ratings Changes

A number of equities research analysts recently commented on the company. Berenberg Bank reaffirmed a "buy" rating and set a GBX 700 ($9.29) target price on shares of Conduit in a report on Wednesday. Royal Bank Of Canada decreased their target price on 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 Price Performance

The company has a market capitalization of £623.25 million, a price-to-earnings ratio of 2.92 and a beta of 0.52. The stock has a fifty day simple moving average of GBX 378.14 and a 200-day simple moving average of GBX 383.79.

Insider Transactions at Conduit

In other Conduit news, insider Neil David Eckert bought 1,850 shares of Conduit stock in a transaction dated Friday, May 16th. The stock was acquired at an average cost of GBX 369 ($4.90) per share, with a total value of £6,826.50 ($9,060.92). 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.