Stingray Group (TSE:RAY.A) Hits New 12-Month High - Time to Buy?

Key Points

• Stingray Group's shares reached a new 52-week high of C$11.26, last trading at C$10.57, with a trading volume of 44,364 shares.
• Multiple analysts have set new price targets for Stingray Group, with CIBC raising their target from C$11.50 to C$13.50 and TD Securities increasing theirs from C$11.00 to C$12.00.
• Insider activity includes Senior Officer Lloyd Perry Feldman selling 5,000 shares, contributing to a total of 13,100 shares sold by insiders in the last three months.

Stingray Group (TSE:RAY.A - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as C$11.26 and last traded at C$10.57, with a volume of 44364 shares. The stock had previously closed at C$10.84.

Analyst Ratings Changes

Several research firms have commented on RAY.A. National Bankshares raised their target price on shares of Stingray Group from C$12.00 to C$13.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Desjardins set a C$11.50 target price on shares of Stingray Group and gave the company a "buy" rating in a research note on Wednesday, June 11th. CIBC raised their target price on shares of Stingray Group from C$11.50 to C$13.50 in a research note on Thursday, June 12th. Finally, TD Securities raised 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 note on Tuesday, April 29th.

Stingray Group Price Performance

The stock's 50-day moving average is C$9.99 and its 200-day moving average is C$9.10. The firm has a market cap of C$534.06 million, a P/E ratio of -34.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. 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 Activity at Stingray Group

In related news, Senior Officer Lloyd Perry Feldman sold 5,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of C$9.95, for a total transaction of C$49,750.00. In the last 90 days, insiders have sold 13,100 shares of company stock valued at $129,441. 25.46% of the stock is currently owned by insiders.

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.