IG Group (LON:IGG) Stock Price Up 7.5% – What’s Next?

Shares of IG Group Holdings plc (LON:IGG) rose 7.5% during trading on Tuesday . The company traded as high as GBX 1,700 and last traded at GBX 1,691.50. Approximately 5,340,505 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 4,985,192 shares. The stock had previously closed at GBX 1,574.

IG Group Trading Up 9.1%

The company has a debt-to-equity ratio of 30.81, a quick ratio of 2.40 and a current ratio of 3.43. The firm has a market cap of £5.68 billion, a PE ratio of 16.34, a PEG ratio of -1.44 and a beta of 0.49. The stock’s 50 day simple moving average is GBX 1,466.56 and its 200 day simple moving average is GBX 1,327.35.

IG Group (LON:IGG) last released its quarterly earnings results on Thursday, March 19th. The company reported GBX 196.66 EPS for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. On average, sell-side analysts forecast that IG Group Holdings plc will post 104.0295119 earnings per share for the current fiscal year.

IG Group declared that its board has approved a share buyback program 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. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are 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.