Stingray Group (TSE:RAY.A) Hits New 12-Month High - Here's What Happened

Stingray Group (TSE:RAY.A - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as C$10.10 and last traded at C$10.03, with a volume of 41450 shares changing hands. The stock had previously closed at C$9.77.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RAY.A. TD Securities increased their target price on shares of Stingray Group from C$11.00 to C$12.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. CIBC raised their price objective on shares of Stingray Group from C$11.50 to C$13.50 in a research report on Thursday, June 12th. Finally, Desjardins set a C$11.50 price objective on shares of Stingray Group and gave the stock a "buy" rating in a research report on Wednesday, June 11th.

Stingray Group Trading Up 2.7%

The firm has a market capitalization of C$532.99 million, a price-to-earnings ratio of -34.59, a PEG ratio of 1.13 and a beta of 1.07. The business's 50-day simple moving average is C$8.67 and its two-hundred day simple moving average is C$8.35. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45.

Insider Buying and Selling at Stingray Group

In other news, Senior Officer Lloyd Perry Feldman sold 3,100 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of C$9.90, for a total value of C$30,690.93. Company insiders own 25.46% of the company's stock.

About Stingray Group

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment.

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