3i Group plc (III) Sets New 1-Year High at $974.50
3i Group plc (LON:III) hit a new 52-week high on Friday . The company traded as high as GBX 974.50 ($12.60) and last traded at GBX 964 ($12.47), with a volume of 1,481,152 shares changing hands. The stock had previously closed at GBX 969.50 ($12.54).
Several brokerages have recently commented on III. Barclays PLC reissued an “overweight” rating and set a GBX 980 ($12.67) price target (up previously from GBX 750 ($9.70)) on shares of 3i Group plc in a research note on Thursday, June 1st. Canaccord Genuity reissued a “buy” rating and set a GBX 875 ($11.32) price target on shares of 3i Group plc in a research note on Friday, May 12th. Citigroup Inc. boosted their price target on 3i Group plc from GBX 710 ($9.18) to GBX 980 ($12.67) and gave the stock a “neutral” rating in a research note on Wednesday, June 7th. J P Morgan Chase & Co reissued an “overweight” rating on shares of 3i Group plc in a research note on Wednesday, May 31st. Finally, Morgan Stanley lowered 3i Group plc to an “equal weight” rating and boosted their price target for the stock from GBX 823 ($10.64) to GBX 940 ($12.16) in a research note on Tuesday, June 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of GBX 919.17 ($11.89).
The stock’s 50 day moving average price is GBX 5.44 and its 200-day moving average price is GBX 4.94. The company’s market cap is GBX 9.27 billion.
In related news, insider Julia Wilson sold 60,747 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of GBX 908 ($11.74), for a total transaction of £551,582.76 ($713,376.56). Insiders have sold 147,232 shares of company stock worth $135,416,356 in the last quarter.
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About 3i Group plc
3i Group plc is an investment company with approximately three complementary businesses, Private Equity, Infrastructure and Debt Management, specializing in core investment markets in northern Europe and North America. The Company’s Private Equity business includes investment and asset management to generate capital returns, and is focused on consumer, industrial and business services sectors.
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