IG Group (LON:IGG) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

IG Group Holdings plc (LON:IGG) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,091.93 and traded as high as GBX 1,132. IG Group shares last traded at GBX 1,122, with a volume of 18,783,266 shares trading hands.

Analyst Ratings Changes

IGG has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the company an “outperform” rating in a report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of IG Group from GBX 1,225 to GBX 1,350 and gave the company a “buy” rating in a report on Friday, August 8th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,250 price target on shares of IG Group in a report on Friday, September 26th. Peel Hunt reissued a “buy” rating and set a GBX 340 price target on shares of IG Group in a report on Thursday, October 16th. Finally, Shore Capital reissued a “buy” rating and set a GBX 1,250 price target on shares of IG Group in a report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 1,309.14.

IG Group Stock Down 0.2%

The firm has a market cap of £3.88 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of -1.44 and a beta of 0.55. The firm’s fifty day moving average is GBX 1,104.10 and its two-hundred day moving average is GBX 1,091.93. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40.

IG Group announced that its board has authorized a stock repurchase program on Thursday, September 4th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other IG Group news, insider Wu Gang purchased 5,576 shares of the company’s stock in a transaction on Monday, October 6th. The shares were purchased at an average cost of GBX 1,071 per share, for a total transaction of £59,718.96. Also, insider Clifford Abrahams purchased 5,000 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of GBX 1,072 per share, for a total transaction of £53,600. Insiders purchased 85,576 shares of company stock valued at $91,889,391 over the last 90 days. 1.13% of the stock is currently owned by company insiders.

IG Group Company Profile

IG Group (LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients.