Conduit (LON:CRE) Shares Cross Below 200 Day Moving Average – What’s Next?

Conduit Holdings Limited (LON:CRE)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 405.23 ($5.45) and traded as low as GBX 383 ($5.15). Conduit shares last traded at GBX 388.11 ($5.22), with a volume of 842,794 shares changing hands.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 700 ($9.41) price objective on shares of Conduit in a research report on Monday, March 31st.

Conduit Stock Up 1.3%

The stock has a market cap of £780.29 million, a P/E ratio of 3.66 and a beta of 0.52. The business’s 50-day simple moving average is GBX 369.05 and its two-hundred day simple moving average is GBX 405.23.

Insider Buying and Selling

In other Conduit news, insider Trevor Carvey bought 70,000 shares of Conduit stock in a transaction on Tuesday, April 1st. The shares were acquired at an average price of GBX 340 ($4.57) per share, for a total transaction of £238,000 ($320,064.55). Also, insider Neil David Eckert purchased 1,650 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was bought at an average price of GBX 369 ($4.96) per share, for a total transaction of £6,088.50 ($8,187.87). In the last three months, insiders have purchased 163,916 shares of company stock valued at $56,657,424. 6.19% of the stock is owned by company insiders.

About Conduit

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.