Frontier Developments (LON:FDEV) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Key Points

• Frontier Developments shares fell below their 200-day moving average, trading as low as GBX 302.36 and last changing hands at GBX 314.37, well under the GBX 440.26 long-term average.
• Deutsche Bank upgraded the stock to buy and lifted its price target from GBX 580 to GBX 605, reinforcing a broadly positive analyst outlook. The consensus rating remains Buy with an average target of GBX 608.33.
• Insider selling was also noted, with director David John Braben selling 93,070 shares at GBX 378. Over the last quarter, insiders have sold a substantial amount of stock, even as they still own 37.78% of the company.

Frontier Developments plc (LON:FDEV - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 440.26 and traded as low as GBX 302.36. Frontier Developments shares last traded at GBX 314.37, with a volume of 175,977 shares.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Developments to a "buy" rating and increased their price objective for the stock from GBX 580 to GBX 605 in a research note on Wednesday, January 14th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of GBX 608.33.

Frontier Developments Price Performance

The stock's fifty day moving average is GBX 360.58 and its 200-day moving average is GBX 440.26. The stock has a market capitalization of £109.19 million, a PE ratio of 6.31, a P/E/G ratio of 2.11 and a beta of 0.03. The company has a debt-to-equity ratio of 19.71, a current ratio of 2.83 and a quick ratio of 2.61.

Insider Transactions at Frontier Developments

In related news, insider David John Braben sold 93,070 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of GBX 378, for a total transaction of £351,804.60. Insiders have sold 369,070 shares of company stock worth $735,396,960 over the last quarter. Corporate insiders own 37.78% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.