Stingray Group (TSE:RAY.A) Hits New 1-Year High - What's Next?

Stingray Group (TSE:RAY.A - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$10.47 and last traded at C$10.40, with a volume of 1807 shares. The stock had previously closed at C$10.32.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RAY.A shares. TD Securities raised their price objective on 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. CIBC raised their price objective on Stingray Group from C$11.50 to C$13.50 in a research note on Thursday, June 12th. Finally, Desjardins set a C$11.50 price objective on Stingray Group and gave the company a "buy" rating in a research note on Wednesday, June 11th.

Stingray Group Stock Down 0.8%

The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The company has a market capitalization of C$544.15 million, a P/E ratio of -35.31, a PEG ratio of 1.13 and a beta of 1.07. The company has a 50 day moving average of C$9.07 and a 200-day moving average of C$8.57.

Insider Activity

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