IG Group (LON:IGG) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of IG Group Holdings plc (LON:IGG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,489.79 and traded as high as GBX 1,843. IG Group shares last traded at GBX 1,818, with a volume of 83,957,313 shares.

Analyst Ratings Changes

IGG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of IG Group from GBX 1,650 to GBX 1,750 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Royal Bank Of Canada upped their target price on shares of IG Group from GBX 1,600 to GBX 1,850 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a report on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, IG Group currently has a consensus rating of “Buy” and an average price target of GBX 1,288.

IG Group Stock Up 0.4%

The firm’s 50-day simple moving average is GBX 1,742.97 and its 200 day simple moving average is GBX 1,499.44. The company has a debt-to-equity ratio of 31.16, a quick ratio of 2.40 and a current ratio of 215.53. The company has a market cap of £6.09 billion, a P/E ratio of 17.53, a PEG ratio of -1.44 and a beta of 0.53.

IG Group announced that its board has approved a share repurchase plan on Wednesday, April 1st that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

About IG Group

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.