IWG (LON:IWG) Hits New 12-Month High - Here's What Happened

IWG plc (LON:IWG - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as GBX 212.60 ($2.92) and last traded at GBX 206.20 ($2.83), with a volume of 1677451 shares changing hands. The stock had previously closed at GBX 210 ($2.89).

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 £2.11 billion, a P/E ratio of -15.66, a P/E/G ratio of -5.59 and a beta of 2.10. The firm has a fifty day moving average of GBX 192.76 and a 200 day moving average of GBX 179.58.

IWG announced that its board has approved a share repurchase program on Tuesday, March 4th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management 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.