IG Group (LON:IGG) Hits New 52-Week Low – Here’s What Happened

IG Group Holdings plc (LON:IGG)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as GBX 930 and last traded at GBX 931.50, with a volume of 508,694 shares. The stock had previously closed at GBX 937.50.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IGG shares. Royal Bank Of Canada restated an “outperform” rating and set a GBX 1,850 price objective on shares of IG Group in a report on Friday, August 14th. Peel Hunt reissued a “hold” rating and set a GBX 1,100 price objective on shares of IG Group in a report on Friday, October 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,200 target price on shares of IG Group in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,000 target price on shares of IG Group in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, IG Group presently has an average rating of “Moderate Buy” and an average target price of GBX 1,537.50.

IG Group Stock Performance

The company has a quick ratio of 2.40, a current ratio of 162.46 and a debt-to-equity ratio of 31.85. The firm has a 50 day moving average price of GBX 1,246.68 and a 200-day moving average price of GBX 1,524.44. The stock has a market capitalization of £3.07 billion, a PE ratio of 8.86, a PEG ratio of -1.44 and a beta of 0.50.

IG Group (LON:IGG) last released its quarterly earnings data on Thursday, July 30th. The company reported GBX 68.90 EPS for the quarter. IG Group had a net margin of 27.12% and a return on equity of 18.89%. Research analysts expect that IG Group Holdings plc will post 104.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew Barron purchased 36,416 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of GBX 1,372 per share, for a total transaction of £499,627.52. Also, insider Helen Stevenson bought 2,197 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of GBX 1,358 per share, with a total value of £29,835.26. In the last three months, insiders have bought 43,613 shares of company stock worth $59,601,278. Insiders own 1.20% of the company’s stock.

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.