Frontier Developments (LON:FDEV) Stock Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Frontier Developments shares moved above their 50-day moving average during Friday’s trading, briefly reaching GBX 438 before last trading at GBX 419.50.
• Brokerages remain bullish on the stock: Berenberg and Shore Capital both reiterated buy ratings, with price targets of GBX 600 and GBX 650, respectively. MarketBeat reports a consensus Buy rating and an average target of GBX 618.75.
• Recent insider selling included transactions by Alex Bevis and David John Braben, and insiders have sold 148,154 shares over the past 90 days. The company’s market cap is about £145.73 million, with a low beta of 0.03.

Frontier Developments plc (LON:FDEV - Get Free Report)'s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 424.38 and traded as high as GBX 438. Frontier Developments shares last traded at GBX 419.50, with a volume of 29,556 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on FDEV. Berenberg Bank reissued a "buy" rating and set a GBX 600 price objective on shares of Frontier Developments in a research note on Wednesday, June 10th. Shore Capital Group reissued a "buy" rating and set a GBX 650 price target on shares of Frontier Developments in a research note on Wednesday, June 10th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of GBX 618.75.

Frontier Developments Trading Down 0.4%

The company has a market capitalization of £145.73 million, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03. The business has a fifty day moving average price of GBX 424.38 and a 200 day moving average price of GBX 411.48. 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 Activity at Frontier Developments

In related news, insider Alex Bevis sold 5,084 shares of the business's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of GBX 404, for a total value of £20,539.36. Also, insider David John Braben sold 93,070 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of GBX 378, for a total value of £351,804.60. Insiders sold 148,154 shares of company stock valued at $56,734,396 in the last ninety days. Insiders own 38.10% of the company's stock.

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.

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