IWG (LON:IWG) Reaches New 52-Week High - What's Next?

IWG plc (LON:IWG - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 210.80 ($2.86) and last traded at GBX 209 ($2.83), with a volume of 1796750 shares changing hands. The stock had previously closed at GBX 209.90 ($2.84).

IWG Trading Down 1.5%

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 stock has a market capitalization of £2.07 billion, a P/E ratio of -15.30, a P/E/G ratio of -5.59 and a beta of 2.10. The business's fifty day simple moving average is GBX 181.76 and its two-hundred day simple moving average is GBX 175.75.

IWG declared that its board has approved a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

About IWG

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.