Share Buyback Plan Declared by Plus500 (LON:PLUS) Board

Key Points

• The board of Plus500 has approved a $90 million stock buyback plan, allowing the repurchase of up to 3.2% of its outstanding shares, a move suggesting the stock may be undervalued.
• As of Monday, Plus500 shares traded at GBX 3,098 ($41.85), reflecting a minor 0.1% dip in trading, with a market capitalization of £2.86 billion.
• Recent analyst ratings show a shift in positive outlook, with Liberum Capital raising their price target to GBX 3,750 while maintaining a "buy" rating for the stock.

Plus500 (LON:PLUS - Get Free Report) announced that its board has approved a stock buyback plan on Monday, August 18th, RTT News reports. The company plans to repurchase $90.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Plus500 Trading Down 0.1%

Plus500 stock traded down GBX 2 ($0.03) during trading on Monday, hitting GBX 3,098 ($41.85). 261,813 shares of the company were exchanged, compared to its average volume of 344,326. The business's 50 day moving average is GBX 3,324.69 and its 200 day moving average is GBX 3,099.66. Plus500 has a 52 week low of GBX 2,304 ($31.12) and a 52 week high of GBX 3,492 ($47.17). The company has a market capitalization of £2.86 billion, a P/E ratio of 11.46, a PEG ratio of 0.24 and a beta of 0.20.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PLUS shares. Liberum Capital upped their price objective on Plus500 from GBX 3,650 ($49.30) to GBX 3,750 ($50.66) and gave the stock a "buy" rating in a research note on Monday, August 11th. Canaccord Genuity Group upped their price objective on Plus500 from GBX 2,650 ($35.80) to GBX 2,764 ($37.34) and gave the stock a "hold" rating in a research note on Wednesday, April 30th. Finally, Peel Hunt reiterated a "buy" rating and set a GBX 3,400 ($45.93) price objective on shares of Plus500 in a research note on Monday, August 11th.

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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