Conduit (LON:CRE) Share Price Crosses Above Two Hundred Day Moving Average of $507.06

Conduit Holdings Limited (LON:CRE)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 507.06 ($6.69) and traded as high as GBX 545.80 ($7.20). Conduit shares last traded at GBX 526 ($6.94), with a volume of 198,176 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CRE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 675 ($8.90) price objective on shares of Conduit in a research report on Thursday, August 1st. Berenberg Bank boosted their price objective on shares of Conduit from GBX 695 ($9.17) to GBX 700 ($9.23) and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Conduit from GBX 710 ($9.36) to GBX 720 ($9.49) and gave the company a “buy” rating in a research report on Thursday, August 1st.

Conduit Trading Up 0.4 %

The company has a current ratio of 0.55, a quick ratio of 1.19 and a debt-to-equity ratio of 0.18. The stock has a market cap of £828.85 million, a P/E ratio of 526.00 and a beta of 0.53. The firm’s 50-day simple moving average is GBX 512.06 and its 200 day simple moving average is GBX 507.06.

Conduit Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.18 dividend. This represents a dividend yield of 2.68%. The ex-dividend date is Thursday, August 15th. Conduit’s dividend payout ratio is currently 2,800.00%.

Insider Transactions at Conduit

In related news, insider Trevor Carvey purchased 2,500 shares of Conduit stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of GBX 524 ($6.91) per share, with a total value of £13,100 ($17,275.48). Company insiders own 6.18% of the company’s stock.

About Conduit

Conduit Holdings Limited, together with its subsidiaries, provides reinsurance products and services worldwide. It operates in three divisions: Property, Casualty, and Specialty. The property division offers catastrophe and non-catastrophe property reinsurance products. The Casualty division provides director's and officer's, financial institutions, general, professional, and transactional liability, as well as medical malpractice reinsurance products.