Pollen Street Group (LON:POLN) Trading Down 0.4% – Here’s Why

Shares of Pollen Street Group Limited (LON:POLN) were down 0.4% on Friday . The company traded as low as GBX 926 and last traded at GBX 930. Approximately 25,077 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 41,316 shares. The stock had previously closed at GBX 934.

Wall Street Analyst Weigh In

POLN has been the subject of a number of recent research reports. Berenberg Bank boosted their price target on Pollen Street Group from GBX 900 to GBX 1,050 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Panmure Gordon restated a “buy” rating and set a GBX 1,120 target price on shares of Pollen Street Group in a research report on Wednesday, November 19th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 1,046 target price on shares of Pollen Street Group in a report on Tuesday, November 18th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Pollen Street Group currently has a consensus rating of “Buy” and an average price target of GBX 1,072.

Pollen Street Group Trading Down 0.4%

The stock has a 50 day moving average of GBX 926.88 and a 200-day moving average of GBX 881.42. The company has a market capitalization of £559.42 million, a P/E ratio of 10.58 and a beta of 0.22.

Pollen Street Group declared that its board has authorized a share repurchase plan on Wednesday, November 5th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

About Pollen Street Group

Pollen Street was founded in 2013. It is a listed alternative asset manager dedicated to the financial and business services sectors. Pollen Street has complementary activities in managing third-party assets (as an asset manager) and on-balance sheet investments (as an investment company), delivering growth through dedicated private equity and credit strategies.