Palace Capital (LON:PCA) Reaches New 1-Year Low – What’s Next?

Palace Capital Plc (LON:PCA)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as GBX 165.50 and last traded at GBX 170, with a volume of 69459 shares changing hands. The stock had previously closed at GBX 173.

Palace Capital Stock Down 1.7%

The firm has a fifty day moving average price of GBX 192.11 and a two-hundred day moving average price of GBX 203.85. The stock has a market capitalization of £34.38 million, a P/E ratio of 20.48, a P/E/G ratio of 3.37 and a beta of 0.17.

Palace Capital declared that its Board of Directors has initiated a stock repurchase program on Friday, April 17th that permits the company to repurchase 400,000,000,000 outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Palace Capital Company Profile

Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London