Frontier Developments (LON:FDEV) Sets New 1-Year High Following Insider Buying Activity

Key Points

• Shares of Frontier Developments plc reached a new 52-week high of GBX 462.65 following insider buying by David John Braben, who purchased over 59,000 shares total this month.
• Equities research analysts have raised price targets for the company, with Berenberg Bank increasing its target from GBX 330 to GBX 450 and assigning a "buy" rating.
• Frontier Developments reported a negative net margin of 24.05% and a negative return on equity of 30.43% in its latest earnings release, highlighting financial challenges despite positive market activity.

Frontier Developments plc (LON:FDEV - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as GBX 462.65 ($6.20) and last traded at GBX 448.28 ($6.01), with a volume of 377484 shares changing hands. The stock had previously closed at GBX 427.39 ($5.73).

Specifically, insider David John Braben acquired 33,705 shares of Frontier Developments stock in a transaction that occurred on Friday, September 26th. The shares were acquired at an average price of GBX 428 per share, with a total value of £144,257.40. Also, insider David John Braben purchased 25,330 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average cost of GBX 418 per share, with a total value of £105,879.40.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FDEV shares. Berenberg Bank raised their price target on shares of Frontier Developments from GBX 330 to GBX 450 and gave the company a "buy" rating in a report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft raised their price target 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, Shore Capital reaffirmed a "buy" rating on shares of Frontier Developments in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of GBX 420.

Frontier Developments Price Performance

The company has a market capitalization of £167.38 million, a P/E ratio of 1,088.06, a P/E/G ratio of 2.11 and a beta of 0.03. The business's 50-day simple moving average is GBX 381.04 and its 200 day simple moving average is GBX 293.14. 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 released its 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%. As a group, sell-side analysts anticipate that Frontier Developments plc will post 7.0917759 EPS for the current year.

About Frontier Developments

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.