Frontier Developments (LON:FDEV) Stock Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Frontier Developments shares rose above their 50-day moving average, reaching GBX 610 before last trading at GBX 573 on volume of 105,433 shares.
• Analysts remain optimistic: four firms rate the stock a Buy, with an average price target of GBX 618.75; recent targets include GBX 600 from Berenberg and GBX 650 from Shore Capital.
• The company reported quarterly EPS of GBX 74.60, a 26.03% net margin and 27.12% return on equity, while insider Alex Bevis sold 50,000 shares for £258,000.

Frontier Developments plc (LON:FDEV - Get Free Report)'s stock price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of GBX 487.25 and traded as high as GBX 610. Frontier Developments shares last traded at GBX 573, with a volume of 105,433 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FDEV. Berenberg Bank reissued a "buy" rating and set a GBX 600 price target on shares of Frontier Developments in a report on Wednesday, September 9th. Shore Capital Group raised Frontier Developments to a "buy" rating and set a GBX 650 price objective on the stock in a report on Wednesday, September 9th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of GBX 618.75.

Frontier Developments Trading Down 3.0%

The company has a quick ratio of 2.61, a current ratio of 3.50 and a debt-to-equity ratio of 16.51. The business has a fifty day simple moving average of GBX 487.25 and a 200 day simple moving average of GBX 426.45. The company has a market cap of £199.02 million, a price-to-earnings ratio of 11.51, a P/E/G ratio of 2.11 and a beta of 0.03.

Frontier Developments (LON:FDEV - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported GBX 74.60 EPS for the quarter. Frontier Developments had a net margin of 26.03% and a return on equity of 27.12%. On average, equities analysts anticipate that Frontier Developments plc will post 7.0917759 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Alex Bevis sold 50,000 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of GBX 516, for a total transaction of £258,000. Corporate insiders own 38.10% of the company's stock.

Frontier Developments Company Profile

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality. At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world's biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players. We have created games that have defined genres, been critically acclaimed, and reached many millions of players.

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