IWG (LON:IWG) Sets 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 Tuesday . The stock traded as high as GBX 210.80 ($2.86) and last traded at GBX 209 ($2.84), with a volume of 1796750 shares changing hands. The stock had previously closed at GBX 209.90 ($2.85).

IWG Price Performance

The company has a debt-to-equity ratio of 12,629.31, a current ratio of 0.41 and a quick ratio of 0.45. The company has a market capitalization of £1.98 billion, a PE ratio of -14.64, a PEG ratio of -5.59 and a beta of 2.10. The firm has a 50-day moving average of GBX 184.76 and a 200 day moving average of GBX 176.65.

IWG declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board 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.