Conduit Holdings Limited (LON:CRE - Get Free Report)'s share price fell 22% on Wednesday . The stock traded as low as GBX 296.39 ($3.93) and last traded at GBX 299.50 ($3.98). 6,725,274 shares traded hands during mid-day trading, an increase of 657% from the average session volume of 888,956 shares. The stock had previously closed at GBX 384 ($5.10).
Analyst Upgrades and Downgrades
CRE has been the subject of a number of research analyst reports. Berenberg Bank restated a "buy" rating and issued a GBX 700 ($9.29) price target on shares of Conduit in a research report on Wednesday. Royal Bank Of Canada dropped their target price 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.
Get Our Latest Stock Report on CRE
Conduit Stock Performance
The company has a 50-day moving average of GBX 378.14 and a 200-day moving average of GBX 383.30. The stock has a market capitalization of £623.25 million, a price-to-earnings ratio of 2.92 and a beta of 0.52.
Insiders Place Their Bets
In related news, insider Neil David Eckert acquired 1,850 shares of Conduit stock in a transaction dated Friday, May 16th. The shares were acquired at an average cost of GBX 369 ($4.90) per share, for a total transaction of £6,826.50 ($9,060.92). Insiders own 6.19% of the company's stock.
Conduit Company Profile
(
Get Free Report)
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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