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

Shares of 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 867.32 ($11.25) and traded as high as GBX 902 ($11.70). IG Group shares last traded at GBX 899 ($11.66), with a volume of 507,849 shares traded.

Analysts Set New Price Targets

IGG has been the subject of a number of research analyst reports. Shore Capital reiterated a “buy” rating on shares of IG Group in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of IG Group from GBX 1,000 ($12.97) to GBX 1,100 ($14.27) and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,065 ($13.81) price objective on shares of IG Group in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 986.75 ($12.80).

IG Group Trading Up 0.4 %

The company has a debt-to-equity ratio of 17.04, a quick ratio of 2.40 and a current ratio of 2.31. The company has a market cap of £3.23 billion, a price-to-earnings ratio of 1,152.56, a P/E/G ratio of -1.44 and a beta of 0.55. The company’s fifty day moving average is GBX 936.55 and its two-hundred day moving average is GBX 868.30.

Insider Transactions at IG Group

In other IG Group news, insider Breon Corcoran purchased 40,000 shares of the stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of GBX 916 ($11.88) per share, with a total value of £366,400 ($475,165.35). Company 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.