Conduit (LON:CRE) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Conduit Holdings Limited (LON:CRE) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 512.72 ($6.70) and traded as high as GBX 537 ($7.01). Conduit shares last traded at GBX 535 ($6.99), with a volume of 539,678 shares changing hands.

Wall Street Analysts Forecast Growth

CRE has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a GBX 675 ($8.81) price objective on shares of Conduit in a research report on Thursday, August 1st. Jefferies Financial Group upped their price target on Conduit from GBX 710 ($9.27) to GBX 720 ($9.40) and gave the company a “buy” rating in a research note on Thursday, August 1st.

Conduit Stock Performance

The stock’s 50 day moving average is GBX 526.79 and its two-hundred day moving average is GBX 512.72. The firm has a market capitalization of £840.31 million, a P/E ratio of 529.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 1.19.

Conduit Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.18 dividend. This represents a dividend yield of 2.68%. The ex-dividend date was Thursday, August 15th. Conduit’s dividend payout ratio (DPR) is currently 2,772.28%.

Insider Transactions at Conduit

In related news, insider Stephen Redmond acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of GBX 530 ($6.92) per share, for a total transaction of £79,500 ($103,813.01). In other news, insider Stephen Redmond acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of GBX 530 ($6.92) per share, for a total transaction of £79,500 ($103,813.01). Also, insider Trevor Carvey bought 2,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of GBX 524 ($6.84) per share, with a total value of £13,100 ($17,106.29). 6.19% of the stock is owned by corporate 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.