Ninety One Group (LON:N91) Shares Down 1.6% – Here’s Why

Ninety One Group (LON:N91)’s stock price dropped 1.6% during mid-day trading on Wednesday . The stock traded as low as GBX 229.09 and last traded at GBX 231.40. Approximately 368,219 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,071,542 shares. The stock had previously closed at GBX 235.20.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price objective on shares of Ninety One Group from GBX 226 to GBX 222 and set a “neutral” rating on the stock in a research note on Friday, November 28th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Ninety One Group currently has an average rating of “Hold” and an average target price of GBX 206.

Ninety One Group Stock Down 1.1%

The firm’s fifty day moving average price is GBX 240.05 and its 200-day moving average price is GBX 220.65. The company has a debt-to-equity ratio of 39.25, a current ratio of 1,371.96 and a quick ratio of 0.07. The firm has a market capitalization of £2.03 billion, a P/E ratio of 12.28, a PEG ratio of 15.99 and a beta of 0.82.

About Ninety One Group

Ninety One Group operates as an independent global asset manager worldwide. It serves private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations, and central banks, as well as large retail financial groups, wealth managers, public and private equity as well as debt, private banks, and intermediaries. It seeks to invest in South African companies struggling with the economic fallout from the spread of coronavirus. Ninety One Group was founded in 1991 and is headquartered in Cape Town, South Africa with additional offices in Africa.