IG Group (LON:IGG) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

IG Group Holdings plc (LON:IGG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 879.03 ($11.08) and traded as high as GBX 940 ($11.85). IG Group shares last traded at GBX 927.50 ($11.69), with a volume of 548,604 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IGG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,065 ($13.42) price objective on shares of IG Group in a report on Wednesday, August 14th. Royal Bank of Canada lifted their target price on shares of IG Group from GBX 1,000 ($12.60) to GBX 1,100 ($13.86) and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Shore Capital reissued a “buy” rating on shares of IG Group in a report on Thursday, July 25th.

IG Group Trading Up 0.2 %

The firm has a market capitalization of £3.33 billion, a P/E ratio of 1,189.10, a P/E/G ratio of -1.44 and a beta of 0.55. The company has a current ratio of 2.31, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. The stock has a 50 day simple moving average of GBX 926.41 and a 200-day simple moving average of GBX 879.03.

Insider Activity at IG Group

In related news, insider Breon Corcoran bought 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of GBX 916 ($11.54) per share, with a total value of £366,400 ($461,751.73). 4.44% of the stock is currently owned by company insiders.

About IG Group

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.