Focusrite (LON:TUNE) Shares Pass Above Fifty Day Moving Average of $351.14

Focusrite plc (LON:TUNE)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 351.14 ($4.41) and traded as high as GBX 390 ($4.90). Focusrite shares last traded at GBX 380 ($4.77), with a volume of 76,824 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 410 ($5.15) price target on shares of Focusrite in a report on Wednesday, May 1st.

Focusrite Stock Up 2.1 %

The stock’s 50-day moving average price is GBX 351.14 and its two-hundred day moving average price is GBX 446.55. The company has a current ratio of 1.53, a quick ratio of 0.77 and a debt-to-equity ratio of 30.62. The stock has a market capitalization of £227.33 million, a P/E ratio of 1,900.00, a P/E/G ratio of 2.95 and a beta of 1.07.

Focusrite Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 9th will be issued a dividend of GBX 2.10 ($0.03) per share. This represents a yield of 0.57%. The ex-dividend date is Thursday, May 9th. Focusrite’s dividend payout ratio (DPR) is 3,500.00%.

Insiders Place Their Bets

In other news, insider Timothy Paul Carrol purchased 3,386 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were purchased at an average price of GBX 295 ($3.71) per share, with a total value of £9,988.70 ($12,548.62). In related news, insider Sally McKone acquired 6,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average price of GBX 292 ($3.67) per share, with a total value of £20,148 ($25,311.56). Also, insider Timothy Paul Carrol bought 3,386 shares of Focusrite stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of GBX 295 ($3.71) per share, with a total value of £9,988.70 ($12,548.62). Company insiders own 37.01% of the company’s stock.

About Focusrite

Focusrite plc develops and markets hardware and software products primarily for audio professionals and amateur musicians in North America, Europe, the Middle East, Africa, and internationally. It operates through Focusrite, Novation, ADAM Audio, Martin Audio, Sonnox, and Sequential segments. The company provides audio interface and other products for musicians under the Focusrite and Focusrite Pro brands; and products that are used in the creation of electronic music using synthesizers, grooveboxes, keyboard and pad controllers, MIDI controllers, and software and apps under the Novation and Ampify brands.