Stingray Group (TSE:RAY.A) Hits New 12-Month High – Should You Buy?

Shares of Stingray Group (TSE:RAY.A) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$9.08 and last traded at C$9.03, with a volume of 48986 shares trading hands. The stock had previously closed at C$8.70.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Stingray Group from C$10.50 to C$11.00 and gave the company a “market perform” rating in a report on Friday, February 7th. CIBC lifted their price objective on shares of Stingray Group from C$11.00 to C$11.50 in a research note on Friday, February 7th. Finally, Royal Bank of Canada lifted their price objective on shares of Stingray Group from C$10.00 to C$11.00 in a research note on Thursday, November 7th.

Stingray Group Stock Up 4.0 %

The company has a market cap of C$480.92 million, a PE ratio of -31.21, a PEG ratio of 1.13 and a beta of 1.07. The business’s fifty day simple moving average is C$7.80 and its two-hundred day simple moving average is C$7.72. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69.

Insider Transactions at Stingray Group

In other Stingray Group news, Senior Officer Lloyd Perry Feldman sold 10,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of C$8.48, for a total value of C$84,751.00. Also, Senior Officer Mario Dubois sold 19,800 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of C$8.43, for a total transaction of C$166,854.60. Insiders sold 52,500 shares of company stock valued at $430,864 over the last 90 days. Corporate insiders own 25.46% of the company’s stock.

Stingray Group Company Profile

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment.