Jupiter Fund Management (LON:JUP) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Jupiter Fund Management shares moved above their 200-day moving average, trading as high as GBX 174 and last changing hands at GBX 171.60. The stock was up about 0.8% on the day.
• Deutsche Bank raised its price target on the stock from GBX 180 to GBX 190 while keeping a hold rating. Overall, analysts have a consensus Hold rating with an average target of GBX 155.33.
• The company has also been supported by a share buyback authorization and recent insider purchases by Matthew Beesley and Wayne Mepham, signaling some internal confidence in the stock.

Shares of Jupiter Fund Management Plc (LON:JUP - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 171.04 and traded as high as GBX 174. Jupiter Fund Management shares last traded at GBX 171.60, with a volume of 568,482 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft lifted their price objective on Jupiter Fund Management from GBX 180 to GBX 190 and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of GBX 155.33.

Jupiter Fund Management Stock Up 0.8%

The firm's 50 day moving average is GBX 164.94 and its two-hundred day moving average is GBX 171.04. The firm has a market cap of £851.00 million, a P/E ratio of 9.59 and a beta of 1.30. The company has a current ratio of 2.46, a quick ratio of 1.79 and a debt-to-equity ratio of 4.27.

Jupiter Fund Management announced that its board has authorized a stock buyback program on Wednesday, April 8th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Jupiter Fund Management

In other Jupiter Fund Management news, insider Matthew Beesley acquired 671 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of GBX 164 per share, with a total value of £1,100.44. Also, insider Wayne Mepham bought 765 shares of Jupiter Fund Management stock in a transaction on Wednesday, May 27th. The shares were acquired at an average price of GBX 164 per share, for a total transaction of £1,254.60. 4.12% of the stock is owned by insiders.

Jupiter Fund Management Company Profile

Jupiter Fund Management Plc is a publicly owned investment manager. The firm manages mutual funds, hedge funds, client focused portfolios, and multi-manager products for its clients. It invests in the public equity markets across U.K., Europe and global emerging markets. The firm also invests in fixed income markets, fund of funds products, hedge funds, and absolute return funds. Jupiter Fund Management Plc was founded in 1985 and is based in London, United Kingdom.

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