Polar Capital (LON:POLR) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Polar Capital Holdings plc (LON:POLR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 730.10 and traded as high as GBX 859. Polar Capital shares last traded at GBX 848, with a volume of 29,530,395 shares trading hands.

Wall Street Analyst Weigh In

POLR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Polar Capital from GBX 1,050 to GBX 1,250 and gave the stock a “buy” rating in a report on Monday, June 1st. Royal Bank Of Canada upped their price objective on Polar Capital from GBX 670 to GBX 1,260 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 1,045.

Polar Capital Stock Down 0.4%

The business has a 50-day moving average price of GBX 861.35 and a 200-day moving average price of GBX 730.10. The stock has a market cap of £798.70 million, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.79 and a beta of 0.93. The company has a current ratio of 2.53, a quick ratio of 2.45 and a debt-to-equity ratio of 2.69.

Polar Capital (LON:POLR) last issued its quarterly earnings results on Wednesday, July 1st. The company reported GBX 59.20 EPS for the quarter. Polar Capital had a net margin of 21.43% and a return on equity of 42.37%. As a group, analysts forecast that Polar Capital Holdings plc will post 42.5061425 earnings per share for the current year.

Insider Transactions at Polar Capital

In other news, insider Iain Evans sold 65,070 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of GBX 882, for a total transaction of £573,917.40. Also, insider Samir Ayub sold 59,154 shares of the company’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of GBX 882, for a total transaction of £521,738.28. 12.94% of the stock is owned by insiders.

Polar Capital Company Profile

Polar Capital Holdings plc is a publicly owned specialist, investment-led, active fund manager. The firm provides its services to professional and institutional investors. It launches and manages equity and balanced mutual funds. The firm also launches and manages hedge funds for its clients. Polar Capital Holdings plc was founded in 2001 and is based in London, United Kingdom.