IWG (LON:IWG) Hits New 1-Year High - What's Next?

IWG plc (LON:IWG - Get Free Report)'s share price reached a new 52-week high on Friday . The company traded as high as GBX 212.40 ($2.86) and last traded at GBX 209 ($2.81), with a volume of 37641199 shares trading hands. The stock had previously closed at GBX 196.70 ($2.65).

IWG Price Performance

The company has a current ratio of 0.41, a quick ratio of 0.45 and a debt-to-equity ratio of 12,629.31. The company has a market capitalization of £2.04 billion, a PE ratio of -15.14, a P/E/G ratio of -5.59 and a beta of 2.10. The stock has a fifty day simple moving average of GBX 187.98 and a 200-day simple moving average of GBX 177.51.

IWG declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

IWG Company Profile

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products.

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.