Frontier Developments (LON:FDEV) Sets New 52-Week High – Here’s Why

Frontier Developments plc (LON:FDEV)’s share price reached a new 52-week high during trading on Friday . The company traded as high as GBX 500 ($6.66) and last traded at GBX 493 ($6.56), with a volume of 373953 shares. The stock had previously closed at GBX 470 ($6.26).

Wall Street Analyst Weigh In

A number of research firms recently commented on FDEV. Deutsche Bank Aktiengesellschaft lifted their price objective on Frontier Developments from GBX 310 to GBX 390 and gave the stock a “hold” rating in a research note on Friday, September 12th. Berenberg Bank lifted their price objective on Frontier Developments from GBX 450 to GBX 550 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Shore Capital reaffirmed a “buy” rating on shares of Frontier Developments in a research note on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Frontier Developments has an average rating of “Moderate Buy” and a consensus price target of GBX 470.

Frontier Developments Stock Performance

The firm has a market capitalization of £180.14 million, a P/E ratio of 12.11, a P/E/G ratio of 2.11 and a beta of 0.03. The stock has a fifty day simple moving average of GBX 412.60 and a two-hundred day simple moving average of GBX 325.63. The company has a debt-to-equity ratio of 27.70, a current ratio of 2.93 and a quick ratio of 2.61.

Frontier Developments (LON:FDEV) last issued its earnings results on Wednesday, September 10th. The company reported GBX 42.40 earnings per share for the quarter. Frontier Developments had a negative return on equity of 30.43% and a negative net margin of 24.05%. On average, research analysts predict that Frontier Developments plc will post 7.0917759 EPS for the current year.

Insiders Place Their Bets

In other news, insider David John Braben sold 36,385 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of GBX 469, for a total transaction of £170,645.65. In the last ninety days, insiders purchased 91,807 shares of company stock valued at $38,126,744 and sold 617,358 shares valued at $247,207,086. Insiders own 37.76% of the company’s stock.

About Frontier Developments

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality.

At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world’s biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players.

We have created games that have defined genres, been critically acclaimed, and reached many millions of players.