Frontier Developments (LON:FDEV) Hits New 52-Week High - Here's Why

Key Points

• Shares of Frontier Developments plc have reached a new 52-week high of GBX 412.69 ($5.63) during mid-day trading.
• Analysts have increased their price targets for Frontier Developments, with an average target of GBX 420 and ratings ranging from "Buy" to "Hold."
• Insider David John Braben purchased 8,744 shares of the company at GBX 384 per share, amidst significant insider selling that totaled over $171 million in the last 90 days.

Frontier Developments plc (LON:FDEV - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 412.69 ($5.56) and last traded at GBX 406 ($5.47), with a volume of 125987 shares traded. The stock had previously closed at GBX 408 ($5.50).

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FDEV. Shore Capital reissued a "buy" rating on shares of Frontier Developments in a research report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Frontier Developments from GBX 310 to GBX 390 and gave the company a "hold" rating in a report on Friday, September 12th. Finally, Berenberg Bank upped their price objective on shares of Frontier Developments from GBX 330 to GBX 450 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Frontier Developments currently has an average rating of "Moderate Buy" and an average price target of GBX 420.

Frontier Developments Trading Up 0.5%

The company has a 50-day moving average price of GBX 375.92 and a two-hundred day moving average price of GBX 285.38. The stock has a market cap of £151.97 million, a P/E ratio of 987.86, a P/E/G ratio of 2.11 and a beta of 0.03. The company has a current ratio of 2.93, a quick ratio of 2.61 and a debt-to-equity ratio of 27.70.

Frontier Developments (LON:FDEV - Get Free Report) last posted its quarterly earnings results on Wednesday, September 10th. The company reported GBX 42.40 EPS for the quarter. Frontier Developments had a negative net margin of 24.05% and a negative return on equity of 30.43%. On average, research analysts expect that Frontier Developments plc will post 7.0917759 EPS for the current fiscal year.

Insiders Place Their Bets

In other Frontier Developments news, insider David John Braben sold 28,400 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of GBX 361, for a total transaction of £102,524. In the last 90 days, insiders have sold 476,688 shares of company stock valued at $178,238,203. 37.66% of the stock is currently owned by corporate insiders.

Frontier Developments Company Profile

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality. At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world's biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players. We have created games that have defined genres, been critically acclaimed, and reached many millions of players.