Redcentric (LON:RCN) Hits New 12-Month Low After Insider Selling

Redcentric plc (LON:RCN) reached a new 52-week low during trading on Thursday following insider selling activity. The stock traded as low as GBX 95 and last traded at GBX 96, with a volume of 149231 shares. The stock had previously closed at GBX 99.

Specifically, insider John Radziwill sold 9,345,454 shares of Redcentric stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of GBX 160, for a total value of £14,952,726.40. Also, insider Oliver Rupert Andrew Scott sold 11,947,139 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of GBX 160, for a total transaction of £19,115,422.40. In related news, insider Alan John Aubrey sold 39,343 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of GBX 160, for a total transaction of £62,948.80.

Redcentric Stock Performance

The company has a debt-to-equity ratio of 85.17, a quick ratio of 0.34 and a current ratio of 1.56. The stock’s 50-day simple moving average is GBX 120.49 and its two-hundred day simple moving average is GBX 120.12. The stock has a market cap of £152.95 million, a price-to-earnings ratio of 64.00 and a beta of 0.22.

About Redcentric

Redcentric plc provides IT managed services for public and private sector in the United Kingdom. It offers connectivity, software-defined wide area network (WAN), local area network (LAN), managed WAN and LAN, secure remote access, network connectivity options, secure remote and internet access, HSCN and public cloud connectivity, cellular MPLS primary and failover, WAN insight, and managed wireless networking services; and colocation, infrastructure as a service, hybrid cloud, platform as a service, digital transformation consultancy, modern workplace, managed public cloud, backup as a service, disaster recovery as a service, virtual desktops, full stack managed service, OS level managed service, e-commerce and SAP hybris, application modernisation and services experts, database administration, AI and machine learning, and cloud migration and consultancy services.