Ninety One Group (LON:N91) Trading Up 0.6% - Time to Buy?

Key Points

• Ninety One Group's shares increased by 0.6%, closing at GBX 187.80 ($2.52), despite a 9% decline in trading volume compared to the average.
• JPMorgan Chase & Co. raised its target price for the stock from GBX 178 to GBX 190, maintaining a "neutral" rating, with the overall average rating still at "Hold."
• Insider Hendrik du Toit purchased 118,000 shares at an average price of GBX 196 each, indicating confidence in the firm despite less than 1% insider ownership overall.

Ninety One Group (LON:N91 - Get Free Report) rose 0.6% during trading on Thursday . The company traded as high as GBX 188.10 ($2.54) and last traded at GBX 187.80 ($2.54). Approximately 1,026,545 shares changed hands during trading, a decline of 9% from the average daily volume of 1,124,420 shares. The stock had previously closed at GBX 186.70 ($2.53).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price target on Ninety One Group from GBX 178 to GBX 190 and gave the company a "neutral" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ninety One Group currently has a consensus rating of "Hold" and an average price target of GBX 190.

Ninety One Group Trading Down 0.1%

The firm's 50-day moving average price is GBX 190.63 and its 200-day moving average price is GBX 166.10. The company has a market cap of £1.66 billion, a P/E ratio of 1,119.19, a price-to-earnings-growth ratio of 15.99 and a beta of 0.66. The company has a quick ratio of 0.07, a current ratio of 1.03 and a debt-to-equity ratio of 25.60.

Insider Transactions at Ninety One Group

In related news, insider Hendrik du Toit acquired 118,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were acquired at an average price of GBX 196 per share, with a total value of £231,280. Company insiders own 0.84% of the company's stock.

About Ninety One Group

Ninety One Group operates as an independent global asset manager worldwide. It serves private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations, and central banks, as well as large retail financial groups, wealth managers, public and private equity as well as debt, private banks, and intermediaries.