IG Group (LON:IGG) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• IG Group's stock price has recently surpassed its **200-day moving average**, indicating potential upward momentum, trading at GBX 1,071 ($14.44) with a high of GBX 1,086 ($14.64).
• Several analysts have set **new price targets** for IG Group, with Deutsche Bank raising their target to GBX 1,350, reflecting a **strong "buy"** rating across six analysts.
• Insider buying activity was reported, with key insiders purchasing a total of **66,499 shares**, suggesting confidence in the company's valuation and future prospects.

IG Group Holdings plc (LON:IGG - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,074.15 ($14.48) and traded as high as GBX 1,086 ($14.64). IG Group shares last traded at GBX 1,071 ($14.44), with a volume of 605,473 shares.

Analysts Set New Price Targets

Several research firms have issued reports on IGG. Jefferies Financial Group reiterated a "buy" rating and set a GBX 1,250 price objective on shares of IG Group in a research note on Friday, September 26th. Royal Bank Of Canada increased their price objective on IG Group from GBX 1,150 to GBX 1,275 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Shore Capital reiterated a "buy" rating and set a GBX 1,250 price objective on shares of IG Group in a research note on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on IG Group from GBX 1,225 to GBX 1,350 and gave the stock a "buy" rating in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of GBX 1,470.67.

IG Group Stock Performance

The company has a market capitalization of £3.73 billion, a price-to-earnings ratio of 1,019.03, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. The stock has a 50 day moving average price of GBX 1,120.49 and a two-hundred day moving average price of GBX 1,074.15.

IG Group (LON:IGG - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported GBX 114.10 earnings per share for the quarter. IG Group had a return on equity of 30.53% and a net margin of 58.42%. On average, analysts predict that IG Group Holdings plc will post 104.0295119 EPS for the current fiscal year.

IG Group declared that its board has initiated a stock repurchase plan on Thursday, September 4th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Breon Corcoran purchased 61,499 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were acquired at an average price of GBX 1,075 per share, for a total transaction of £661,114.25. Also, insider Clifford Abrahams purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of GBX 1,072 per share, for a total transaction of £53,600. In the last quarter, insiders purchased 80,000 shares of company stock worth $85,917,495. 1.10% of the stock is owned by company insiders.

About IG Group

IG Group LSEG: IGG is an innovative, global fintech company that delivers dynamic online trading platforms and a robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades, the Company has evolved its technology, risk management, financial products, content, and platforms to meet the needs of its retail and institutional clients.

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