Ryanair (NASDAQ:RYAAY) Share Price Breaks Below 200 Day Moving Average – What’s Next?

Ryanair Holdings PLC (NASDAQ:RYAAY)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $59.36 and traded as low as $57.84. Ryanair shares last traded at $57.88, with a volume of 980,465 shares traded.

Analysts Set New Price Targets

RYAAY has been the topic of a number of recent research reports. Sanford C. Bernstein restated an “outperform” rating on shares of Ryanair in a research report on Tuesday, July 21st. Morgan Stanley started coverage on shares of Ryanair in a research note on Friday, August 14th. They set an “overweight” rating and a $62.90 price objective for the company. Zacks Research raised shares of Ryanair from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Raymond James Financial reissued a “strong-buy” rating and issued a $74.00 target price on shares of Ryanair in a research note on Monday, August 24th. Finally, Barclays upgraded Ryanair from a “hold” rating to a “strong-buy” rating in a report on Friday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.97.

Ryanair Stock Down 2.6%

The stock has a market capitalization of $29.98 billion, a price-to-earnings ratio of 14.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.17 and a quick ratio of 1.17. The business has a fifty day moving average of $54.71 and a 200 day moving average of $59.36.

Insiders Place Their Bets

In other Ryanair news, insider Carol Sharkey sold 6,166 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $28.06, for a total transaction of $173,017.96. Following the completion of the transaction, the insider owned 7,970 shares of the company’s stock, valued at $223,638.20. This trade represents a 43.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On Ryanair

Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in shares of Ryanair by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 755,526 shares of the transportation company’s stock worth $48,920,000 after buying an additional 40,648 shares during the period. Trinity Street Asset Management LLP grew its stake in shares of Ryanair by 3.2% in the 2nd quarter. Trinity Street Asset Management LLP now owns 3,567,449 shares of the transportation company’s stock valued at $230,992,000 after purchasing an additional 110,700 shares during the last quarter. Bank of America Corp DE raised its position in Ryanair by 9.0% during the 1st quarter. Bank of America Corp DE now owns 2,052,677 shares of the transportation company’s stock worth $118,645,000 after buying an additional 170,242 shares during the last quarter. Maven Securities LTD purchased a new position in Ryanair during the second quarter worth about $1,554,000. Finally, Ninety One North America Inc. raised its stake in shares of Ryanair by 12.6% during the 3rd quarter. Ninety One North America Inc. now owns 205,437 shares of the transportation company’s stock worth $11,301,000 after buying an additional 23,048 shares in the last quarter. 43.65% of the stock is owned by institutional investors and hedge funds.

Ryanair Company Profile

Ryanair Holdings plc is an Irish airline group focused on low-fare, short-haul travel. Its airlines operate scheduled passenger flights, primarily on point-to-point routes, and offer related services such as priority boarding, seat selection and baggage options. The group serves destinations across Europe and also operates routes to countries in North Africa and the Middle East. Its airline businesses include Ryanair, Buzz, Malta Air and Lauda Europe. Founded in 1984, Ryanair began flying in 1985 with a route between Waterford, Ireland, and London Gatwick.