Plus500's (PLUS) "Buy" Rating Reaffirmed at Jefferies Financial Group

Key Points

• Jefferies reaffirmed a "Buy" rating on Plus500 with a GBX 5,100 price target, implying about a 10.49% upside from the current share price.
• The Board authorized a $100 million share buyback (up to 3% of outstanding shares), signaling management believes the stock may be undervalued.
• Significant insider selling occurred on Feb 17—940,000 and 450,792 shares were sold by two insiders for roughly £62.28 million in total—though insiders still own 51.28% of the company.

Plus500 (LON:PLUS - Get Free Report)'s stock had its "buy" rating restated by analysts at Jefferies Financial Group in a research note issued to investors on Monday,London Stock Exchange reports. They currently have a GBX 5,100 target price on the stock. Jefferies Financial Group's price target points to a potential upside of 10.49% from the company's current price.

Plus500 Stock Up 3.6%

Shares of LON PLUS opened at GBX 4,616 on Monday. The company has a debt-to-equity ratio of 7.38, a quick ratio of 3.89 and a current ratio of 299.59. The firm has a market capitalization of £3.23 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.24 and a beta of 0.36. The stock has a 50 day moving average price of GBX 4,253.43 and a 200 day moving average price of GBX 3,758.48. Plus500 has a 52-week low of GBX 2,874 and a 52-week high of GBX 4,974.

Plus500 announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Plus500

In other Plus500 news, insider Elad Even-Chen sold 940,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of GBX 4,478, for a total transaction of £42,093,200. Also, insider David Zruia sold 450,792 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of GBX 4,478, for a total value of £20,186,465.76. 51.28% of the stock is currently owned by company insiders.

Plus500 Company Profile

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.

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