Black Diamond Group (TSE:BDI) Stock Price Breaks Above 200-Day Moving Average - Here's Why

Key Points

• Black Diamond Group shares rose 1.2%, trading as high as C$18.82 and closing near C$18.70 after breaking above the 200-day moving average of C$18.34.
• The company reported quarterly earnings of C$0.09 per share on revenue of C$129.18 million; analysts expect full-year earnings of approximately C$0.53 per share.
• Insiders sold 549,400 shares worth about C$11.4 million over the past three months, including a 259,700-share sale by Kernwood Limited and Director Elizabeth Kernaghan.

Black Diamond Group Limited (TSE:BDI - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$18.34 and traded as high as C$18.82. Black Diamond Group shares last traded at C$18.70, with a volume of 141,936 shares traded.

Black Diamond Group Stock Up 1.2%

The company has a current ratio of 1.57, a quick ratio of 1.05 and a debt-to-equity ratio of 100.26. The stock has a 50 day simple moving average of C$18.65 and a 200 day simple moving average of C$18.34. The firm has a market capitalization of C$1.27 billion, a PE ratio of 53.43 and a beta of 1.13.

Black Diamond Group (TSE:BDI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.09 earnings per share for the quarter. The firm had revenue of C$129.18 million during the quarter. Black Diamond Group had a return on equity of 5.89% and a net margin of 4.60%. As a group, sell-side analysts forecast that Black Diamond Group Limited will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kernwood Limited sold 259,700 shares of Black Diamond Group stock in a transaction on Friday, October 2nd. The shares were sold at an average price of C$20.76, for a total value of C$5,391,372.00. Following the transaction, the insider directly owned 6,242,200 shares of the company's stock, valued at C$129,588,072. The trade was a 3.99% decrease in their ownership of the stock. Also, Director Elizabeth Kernaghan sold 259,700 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of C$20.76, for a total transaction of C$5,391,372.00. Following the sale, the director owned 6,242,200 shares of the company's stock, valued at C$129,588,072. This represents a 3.99% decrease in their ownership of the stock. Insiders have sold a total of 549,400 shares of company stock valued at $11,392,910 over the last three months. 23.83% of the stock is owned by company insiders.

About Black Diamond Group

Black Diamond is an industrial services and asset management company with two operating business units - Modular Space Solutions (MSS) and Workforce Solutions (WFS). Black Diamond operates in Canada, the United States and Australia. MSS, through its principal brands - BOXX Modular, CLM and Schiavi - owns a large rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.