Jupiter Fund Management (LON:JUP) Stock Price Down 6.4% - Here's What Happened

Key Points

• Shares fell 6.4% intraday to GBX 151.19 (low GBX 148) with trading volume surging to ~49.2 million shares, a ~1,327% increase versus average daily volume.
• Analysts remain cautious: Deutsche Bank lifted its price target to GBX 175 but kept a "hold" rating, and the consensus rating is "Hold" with an average target of GBX 150.33; the stock has a market cap of £758.9M and a P/E of 8.45.
• Corporate actions and insider moves are mixed: the board authorized a share buyback (note the report states it allows repurchases of 0 outstanding shares), while insiders have recently sold significant stock (308,933 shares by Matthew Beesley and 569,285 shares sold in the last 90 days), with insiders owning 3.97% of the company.

Jupiter Fund Management Plc (LON:JUP - Get Free Report)'s share price dropped 6.4% during mid-day trading on Thursday . The company traded as low as GBX 148 and last traded at GBX 151.19. Approximately 49,194,352 shares were traded during mid-day trading, an increase of 1,327% from the average daily volume of 3,447,886 shares. The stock had previously closed at GBX 161.60.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft boosted their price target on Jupiter Fund Management from GBX 165 to GBX 175 and gave the company a "hold" rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of GBX 150.33.

Jupiter Fund Management Stock Down 6.4%

The company has a fifty day moving average price of GBX 177.83 and a 200-day moving average price of GBX 164.73. The stock has a market capitalization of £758.94 million, a P/E ratio of 8.45 and a beta of 1.37.

Jupiter Fund Management (LON:JUP - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported GBX 19.40 earnings per share (EPS) for the quarter. Jupiter Fund Management had a return on equity of 11.49% and a net margin of 21.19%. As a group, research analysts expect that Jupiter Fund Management Plc will post 8.5093781 earnings per share for the current fiscal year.

Jupiter Fund Management declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 8th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Jupiter Fund Management

In other news, insider Matthew Beesley sold 308,933 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of GBX 188, for a total transaction of £580,794.04. Also, insider James Macpherson acquired 30,000 shares of the business's stock in a transaction dated Friday, February 27th. The shares were bought at an average price of GBX 194 per share, for a total transaction of £58,200. Insiders have sold 569,285 shares of company stock valued at $106,835,239 in the last ninety days. Corporate insiders own 3.97% of the company's stock.

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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