NewRiver REIT (LON:NRR) Stock Passes Below Two Hundred Day Moving Average After Insider Selling

Key Points

• NewRiver REIT's stock price has fallen below its 200-day moving average of GBX 72.93 following an insider sale by Will Hobman, who sold 66,339 shares at GBX 70 each.
• The company currently has a market cap of £302.46 million and a very high P/E ratio of 1,126.98, indicating potential overvaluation concerns.
• Despite recent sell-offs, Shore Capital has reiterated a "house stock" rating for NewRiver REIT, suggesting confidence in the company's long-term prospects.

NewRiver REIT plc (LON:NRR - Get Free Report) passed below its 200-day moving average during trading on Wednesday following insider selling activity. The stock has a 200-day moving average of GBX 72.93 ($0.99) and traded as low as GBX 69.20 ($0.94). NewRiver REIT shares last traded at GBX 71 ($0.96), with a volume of 591,439 shares.

Specifically, insider Will Hobman sold 66,339 shares of NewRiver REIT stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of GBX 70, for a total transaction of £46,437.30.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NRR shares. Shore Capital reaffirmed a "house stock" rating on shares of NewRiver REIT in a report on Thursday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 90 price target on shares of NewRiver REIT in a report on Thursday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of GBX 90.

NewRiver REIT Stock Performance

The stock has a market cap of £305.86 million, a P/E ratio of 1,139.68, a PEG ratio of -3.14 and a beta of 1.10. The company has a fifty day moving average of GBX 71.94 and a 200 day moving average of GBX 72.97. The company has a debt-to-equity ratio of 90.77, a current ratio of 5.48 and a quick ratio of 3.00.

About NewRiver REIT

NewRiver is a leading Real Estate Investment Trust specialising in buying, managing and developing retail and leisure assets across the UK. Every day, our shopping centres, retail parks and pubs provide essential goods and services to their local communities.