Stingray Group (TSE:RAY.A) Insider Mavrik Corp. Buys 140,000 Shares

Stingray Group (TSE:RAY.A) insider Mavrik Corp. purchased 140,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of C$7.15 per share, with a total value of C$1,001,000.00.

Stingray Group Trading Down 2.7 %

Shares of TSE:RAY.A opened at C$7.25 on Friday. The firm has a market cap of C$366.05 million, a price-to-earnings ratio of 13.68, a PEG ratio of 1.13 and a beta of 1.11. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 134.69. Stingray Group has a 12 month low of C$4.21 and a 12 month high of C$8.10. The company’s fifty day simple moving average is C$7.49 and its 200 day simple moving average is C$7.01.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RAY.A shares. CIBC lifted their target price on Stingray Group from C$10.00 to C$10.50 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Royal Bank of Canada lifted their price objective on Stingray Group from C$9.00 to C$10.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th.

Stingray Group Company Profile

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.