Jupiter Fund Management (LON:JUP) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Jupiter Fund Management Plc (LON:JUP)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 167.53 and traded as low as GBX 164.80. Jupiter Fund Management shares last traded at GBX 168.60, with a volume of 54,389,855 shares.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Jupiter Fund Management from GBX 180 to GBX 190 and gave the company a “hold” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of GBX 155.33.

Jupiter Fund Management Price Performance

The firm has a market cap of £825.52 million, a PE ratio of 9.19 and a beta of 1.30. The stock has a 50-day moving average price of GBX 159.97 and a 200 day moving average price of GBX 167.53.

Jupiter Fund Management declared that its board has approved a share buyback plan on Wednesday, April 8th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, insider Wayne Mepham sold 30,123 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of GBX 157, for a total value of £47,293.11. Also, insider Matthew Beesley sold 23,463 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of GBX 158, for a total transaction of £37,071.54. Corporate insiders own 4.09% of the company’s stock.

Jupiter Fund Management Company Profile

Jupiter Fund Management Plc is a publicly owned investment manager. The firm manages mutual funds, hedge funds, client focused portfolios, and multi-manager products for its clients. It invests in the public equity markets across U.K., Europe and global emerging markets. The firm also invests in fixed income markets, fund of funds products, hedge funds, and absolute return funds. Jupiter Fund Management Plc was founded in 1985 and is based in London, United Kingdom.