Share Buyback Program Declared by Moonpig Group (LON:MOON) Board of Directors

Moonpig Group (LON:MOON) declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 7th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MOON shares. Jefferies Financial Group restated a “buy” rating and set a GBX 315 price target on shares of Moonpig Group in a research note on Friday, March 20th. JPMorgan Chase & Co. raised their price objective on shares of Moonpig Group from GBX 275 to GBX 285 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 300.83.

Moonpig Group Stock Performance

Shares of LON MOON traded up GBX 3.71 during trading on Thursday, hitting GBX 219.31. The company had a trading volume of 100,694,211 shares, compared to its average volume of 6,570,866. Moonpig Group has a 12 month low of GBX 190.20 and a 12 month high of GBX 262.50. The company has a debt-to-equity ratio of -271.84, a quick ratio of 0.46 and a current ratio of 0.30. The firm has a market capitalization of £666.30 million, a P/E ratio of 15.89 and a beta of 1.01. The stock has a 50 day simple moving average of GBX 213.02 and a 200 day simple moving average of GBX 210.68.

About Moonpig Group

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States.

The Group’s leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.