Stingray Group (TSE:RAY.A) Sets New 12-Month High - Here's Why

Stingray Group (TSE:RAY.A - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as C$10.17 and last traded at C$10.13, with a volume of 2566 shares. The stock had previously closed at C$9.94.

Wall Street Analysts Forecast Growth

RAY.A has been the topic of several research analyst reports. CIBC upped their target price on Stingray Group from C$11.50 to C$13.50 in a research report on Thursday, June 12th. Desjardins set a C$11.50 price target on Stingray Group and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, TD Securities lifted their price objective 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 Stock Up 4.7%

The firm has a market capitalization of C$548.94 million, a PE ratio of -35.62, a P/E/G ratio of 1.13 and a beta of 1.07. The stock has a 50-day simple moving average of C$9.04 and a 200-day simple moving average of C$8.54. 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

In other Stingray Group news, Senior Officer Lloyd Perry Feldman sold 5,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of C$9.95, for a total transaction of C$49,750.00. Insiders have sold a total of 13,100 shares of company stock valued at $129,441 over the last 90 days. Insiders own 25.46% of the company's stock.

Stingray Group Company Profile

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.