Conduit (LON:CRE) Share Price Crosses Above 200 Day Moving Average of $512.24

Conduit Holdings Limited (LON:CRE)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 512.24 ($6.77) and traded as high as GBX 546 ($7.21). Conduit shares last traded at GBX 546 ($7.21), with a volume of 336,537 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on CRE shares. Royal Bank of Canada reissued an “outperform” rating and issued a GBX 675 ($8.92) price target on shares of Conduit in a report on Thursday, August 1st. Jefferies Financial Group lifted their price objective on Conduit from GBX 710 ($9.38) to GBX 720 ($9.51) and gave the company a “buy” rating in a research note on Thursday, August 1st.

Conduit Price Performance

The business’s fifty day moving average price is GBX 524.08 and its 200-day moving average price is GBX 512.37. The company has a market capitalization of £838.27 million, a P/E ratio of 534.00 and a beta of 0.52. The company has a current ratio of 0.55, a quick ratio of 1.19 and a debt-to-equity ratio of 0.18.

Conduit Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.18 dividend. This represents a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, August 15th. Conduit’s payout ratio is currently 2,800.00%.

Insider Activity at Conduit

In other Conduit news, insider Stephen Redmond acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of GBX 530 ($7.00) per share, with a total value of £79,500 ($105,019.82). In other news, insider Trevor Carvey bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of GBX 524 ($6.92) per share, with a total value of £13,100 ($17,305.15). Also, insider Stephen Redmond purchased 15,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of GBX 530 ($7.00) per share, with a total value of £79,500 ($105,019.82). 6.19% of the stock is currently owned by insiders.

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.