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

Key Points

• Stingray Group's share price reached a new 52-week high of C$10.87, with a last trading price of C$10.83.
• Recent analyst reports included a target price increase from CIBC to C$13.50 and a "buy" rating from Desjardins at C$11.50.
• Insider trading activity saw Senior Officer Lloyd Perry Feldman sell 5,000 shares at an average price of C$9.95, totaling C$49,750.

Stingray Group (TSE:RAY.A - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$10.87 and last traded at C$10.83, with a volume of 19033 shares trading hands. The stock had previously closed at C$10.35.

Analyst Upgrades and Downgrades

RAY.A has been the subject of a number of recent research reports. Desjardins set a C$11.50 target price on Stingray Group and gave the stock a "buy" rating in a research report on Wednesday, June 11th. CIBC lifted their price objective on Stingray Group from C$11.50 to C$13.50 in a research note on Thursday, June 12th. Finally, TD Securities lifted their price target on Stingray Group from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th.

Stingray Group Stock Performance

The firm has a market capitalization of C$577.63 million, a PE ratio of -37.48, a P/E/G ratio of 1.13 and a beta of 1.07. The business has a 50-day simple moving average of C$9.58 and a 200-day simple moving average of C$8.89. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69.

Insider Activity at Stingray Group

In related news, Senior Officer Lloyd Perry Feldman sold 5,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of C$9.95, for a total value of C$49,750.00. In the last ninety days, insiders sold 13,100 shares of company stock worth $129,441. Corporate 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.

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