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

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

Wall Street Analysts Forecast Growth

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

IG Group Price Performance

The company has a market cap of £3.11 billion, a P/E ratio of 8.99, a PEG ratio of -1.44 and a beta of 0.50. The firm’s 50-day moving average is GBX 1,230.87 and its two-hundred day moving average is GBX 1,517.53. The company has a debt-to-equity ratio of 31.85, a current ratio of 162.46 and a quick ratio of 2.40.

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%. Analysts anticipate that IG Group Holdings plc will post 104.03 earnings per share for the current year.

Insider Transactions at IG Group

In other IG Group news, insider Helen Stevenson bought 2,197 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of GBX 1,358 per share, for a total transaction of £29,835.26. Also, insider Clifford Abrahams purchased 5,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average cost of GBX 1,331 per share, with a total value of £66,550. Insiders have acquired a total of 43,613 shares of company stock worth $59,601,278 in the last three months. Insiders own 1.20% of the company’s stock.

IG Group Company Profile

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.