The Berkeley Group (LON:BKG) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• The Berkeley Group's share price has crossed below its 200-day moving average of GBX 3,851.57, trading as low as GBX 3,730 recently.
• Royal Bank Of Canada has upgraded The Berkeley Group to an "outperform" rating and raised its price target from GBX 4,550 to GBX 4,900.
• Recent insider purchases included 20,000 shares by two insiders, indicating confidence in the company's stock despite its recent decline.

The Berkeley Group Holdings plc (LON:BKG - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 3,851.57 ($52.20) and traded as low as GBX 3,730 ($50.56). The Berkeley Group shares last traded at GBX 3,748 ($50.80), with a volume of 298,009 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BKG. Royal Bank Of Canada raised shares of The Berkeley Group to an "outperform" rating and lifted their target price for the stock from GBX 4,550 ($61.67) to GBX 4,900 ($66.41) in a research report on Wednesday, July 9th. UBS Group reaffirmed a "buy" rating and issued a GBX 4,965 ($67.29) target price on shares of The Berkeley Group in a research report on Friday.

The Berkeley Group Stock Performance

The business's 50-day moving average price is GBX 3,810.16 and its 200-day moving average price is GBX 3,850.61. The company has a debt-to-equity ratio of 18.66, a quick ratio of 0.57 and a current ratio of 3.39. The stock has a market cap of £3.78 billion, a P/E ratio of 10.08, a P/E/G ratio of -0.87 and a beta of 1.22.

Insider Buying and Selling at The Berkeley Group

In other news, insider Robert C. G. Perrins bought 13,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average price of GBX 3,846 ($52.13) per share, with a total value of £499,980 ($677,663.32). Also, insider Richard Stearn bought 7,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was purchased at an average cost of GBX 3,867 ($52.41) per share, with a total value of £270,690 ($366,888.05). Insiders purchased a total of 25,616 shares of company stock valued at $97,062,600 in the last ninety days. 4.84% of the stock is currently owned by insiders.

About The Berkeley Group

At Berkeley Group we build homes and neighbourhoods across London, Birmingham and the South of England. Our passion and purpose is to build quality homes, strengthen communities and make a positive difference to people's lives. We use our sustained commercial success to make valuable and enduring contributions that benefit all our stakeholders.