IG Group (LON:IGG) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 859.67 ($11.16) and traded as high as GBX 940 ($12.20). IG Group shares last traded at GBX 927.50 ($12.04), with a volume of 421,776 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IGG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 1,065 ($13.83) target price on shares of IG Group in a research report on Wednesday, August 14th. Shore Capital reissued a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on IG Group from GBX 1,000 ($12.98) to GBX 1,100 ($14.28) and gave the company an “outperform” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 986.75 ($12.81).

IG Group Stock Down 0.4 %

The firm has a market capitalization of £3.32 billion, a price-to-earnings ratio of 1,189.10, a P/E/G ratio of -1.44 and a beta of 0.55. The firm has a fifty day moving average price of GBX 945.19 and a 200 day moving average price of GBX 859.67. The company has a current ratio of 2.31, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04.

Insiders Place Their Bets

In other IG Group news, insider Breon Corcoran bought 40,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of GBX 916 ($11.89) per share, for a total transaction of £366,400 ($475,720.59). Insiders own 4.44% of the company’s stock.

IG Group Company Profile

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.