Conduit (LON:CRE) Share Price Crosses Above Two Hundred Day Moving Average of $507.06

Shares of Conduit Holdings Limited (LON:CRE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 507.06 ($6.69) and traded as high as GBX 545.80 ($7.20). Conduit shares last traded at GBX 526 ($6.94), with a volume of 198,176 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRE. Royal Bank of Canada restated an “outperform” rating and set a GBX 675 ($8.90) price objective on shares of Conduit in a research report on Thursday, August 1st. Jefferies Financial Group upped their price objective on Conduit from GBX 710 ($9.36) to GBX 720 ($9.49) and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Berenberg Bank upped their price objective on Conduit from GBX 695 ($9.17) to GBX 700 ($9.23) and gave the company a “buy” rating in a research report on Wednesday, May 15th.

Conduit Stock Performance

The business has a fifty day simple moving average of GBX 512.06 and a two-hundred day simple moving average of GBX 507.06. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 1.19. The company has a market cap of £828.85 million, a PE ratio of 526.00 and a beta of 0.53.

Conduit Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, August 15th. This represents a dividend yield of 2.68%. Conduit’s dividend payout ratio is presently 2,800.00%.

Insider Activity

In other news, insider Trevor Carvey bought 2,500 shares of Conduit stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of GBX 524 ($6.91) per share, for a total transaction of £13,100 ($17,275.48). Company insiders own 6.18% of the company’s stock.

Conduit Company Profile

Conduit Holdings Limited, together with its subsidiaries, provides reinsurance products and services worldwide. It operates in three divisions: Property, Casualty, and Specialty. The property division offers catastrophe and non-catastrophe property reinsurance products. The Casualty division provides director's and officer's, financial institutions, general, professional, and transactional liability, as well as medical malpractice reinsurance products.