IWG (LON:IWG) Stock Passes Below 50-Day Moving Average – Should You Sell?

IWG plc (LON:IWG)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 188.31 and traded as low as GBX 180.40. IWG shares last traded at GBX 186.10, with a volume of 2,847,150 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IWG. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 260 price target on shares of IWG in a report on Wednesday, August 12th. Jefferies Financial Group restated a “buy” rating and issued a GBX 265 price objective on shares of IWG in a report on Wednesday, August 12th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 350 target price on shares of IWG in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 275 target price on shares of IWG in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 269.80.

IWG Stock Performance

The company has a market capitalization of £1.77 billion, a PE ratio of 104.78, a PEG ratio of -5.59 and a beta of 1.56. The company has a 50 day moving average of GBX 188.36 and a two-hundred day moving average of GBX 189.67. The company has a debt-to-equity ratio of -1,917.40, a current ratio of 0.43 and a quick ratio of 0.45.

IWG declared that its Board of Directors has approved a stock repurchase plan on Tuesday, June 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at IWG

In other IWG news, insider Christian Schmitz bought 50,000 shares of IWG stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average cost of GBX 183 per share, with a total value of £91,500. In the last quarter, insiders have acquired 125,000 shares of company stock worth $22,050,000. Insiders own 27.58% of the company’s stock.

About IWG

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products. It provides its services franchise partners, landlords, and property owners under the Regus, Spaces, HQ, Signature, Basepoint, Stop & Work, The Office Operators, BizDojo, Open Office, No18, The Clubhouse, Central Working, and Copernico brands.