Black Diamond Group (TSE:BDI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Black Diamond Group Limited (TSE:BDI)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.88 and traded as high as C$8.95. Black Diamond Group shares last traded at C$8.84, with a volume of 41,482 shares trading hands.

Analysts Set New Price Targets

BDI has been the subject of a number of research analyst reports. Raymond James lifted their target price on Black Diamond Group from C$12.00 to C$14.00 and gave the stock a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets lifted their price objective on shares of Black Diamond Group from C$11.00 to C$12.00 in a research note on Friday, August 2nd.

Black Diamond Group Stock Performance

The company has a market capitalization of C$529.60 million, a price-to-earnings ratio of 18.42 and a beta of 1.54. The company has a 50 day moving average price of C$9.42 and a 200 day moving average price of C$8.88. The company has a debt-to-equity ratio of 84.84, a quick ratio of 1.05 and a current ratio of 1.18.

Black Diamond Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Black Diamond Group’s previous quarterly dividend of $0.03. Black Diamond Group’s dividend payout ratio (DPR) is 25.00%.

Insider Activity

In related news, Senior Officer Edward John Redmond sold 80,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$9.80, for a total value of C$784,000.00. In other Black Diamond Group news, Director Steve Stein sold 4,100 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$10.06, for a total transaction of C$41,246.00. Also, Senior Officer Edward John Redmond sold 80,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$9.80, for a total value of C$784,000.00. Insiders sold a total of 123,000 shares of company stock worth $1,215,370 over the last quarter. 23.83% of the stock is currently owned by corporate insiders.

Black Diamond Group Company Profile

Black Diamond Group Limited rents and sells modular space and workforce accommodation solutions. It operates through two segments, Modular Space Solutions and Workforce Solutions. The Modular Space Solutions segment provides modular space rentals to customers in the construction, real estate development, education, manufacturing, health care, financial, government, and defense industries in North America.