Conduit (LON:CRE) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Conduit Holdings Limited (LON:CRE) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 514.23 ($6.67) and traded as high as GBX 526 ($6.82). Conduit shares last traded at GBX 518 ($6.72), with a volume of 125,428 shares changing hands.

Wall Street Analyst Weigh In

CRE has been the topic of several analyst reports. Jefferies Financial Group increased their target price on shares of Conduit from GBX 710 ($9.21) to GBX 720 ($9.34) and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a GBX 675 ($8.75) price objective on shares of Conduit in a report on Thursday, August 1st.

Conduit Stock Up 0.8 %

The stock has a market cap of £813.16 million, a P/E ratio of 512.87 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. The firm’s fifty day moving average is GBX 527.80 and its 200 day moving average is GBX 514.23.

Insider Transactions at Conduit

In other Conduit news, insider Stephen Redmond bought 15,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of GBX 530 ($6.87) per share, with a total value of £79,500 ($103,099.47). In related news, insider Stephen Redmond purchased 15,000 shares of Conduit stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of GBX 530 ($6.87) per share, with a total value of £79,500 ($103,099.47). Also, insider Trevor Carvey purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of GBX 524 ($6.80) per share, for a total transaction of £13,100 ($16,988.72). 6.19% of the stock is currently owned by corporate insiders.

Conduit Company Profile

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.