Ninety One Group (LON:N91) Stock Price Up 0.3% – Here’s Why

Ninety One Group (LON:N91) shares rose 0.3% on Tuesday . The company traded as high as GBX 245.20 and last traded at GBX 243.66. Approximately 6,955,865 shares were traded during mid-day trading, an increase of 367% from the average daily volume of 1,489,054 shares. The stock had previously closed at GBX 243.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their target price on Ninety One Group from GBX 226 to GBX 222 and set a “neutral” rating for the company in a research note on Friday, November 28th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of GBX 206.

Ninety One Group Stock Up 0.3%

The company has a debt-to-equity ratio of 25.60, a current ratio of 1.03 and a quick ratio of 0.07. The company has a market capitalization of £2.20 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 15.99 and a beta of 0.66. The firm’s 50-day simple moving average is GBX 229.77 and its two-hundred day simple moving average is GBX 214.80.

Ninety One Group (LON:N91) last announced its quarterly earnings results on Monday, November 17th. The company reported GBX 8.40 EPS for the quarter. Ninety One Group had a return on equity of 42.90% and a net margin of 26.24%. Sell-side analysts predict that Ninety One Group will post 15.1025641 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kim Mary McFarland purchased 76,988 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of GBX 209 per share, with a total value of £160,904.92. Also, insider Hendrik du Toit acquired 42,946 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average cost of GBX 210 per share, for a total transaction of £90,186.60. 0.95% of the stock is currently owned by insiders.

About Ninety One Group

Ninety One Group operates as an independent global asset manager worldwide. It serves private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations, and central banks, as well as large retail financial groups, wealth managers, public and private equity as well as debt, private banks, and intermediaries. It seeks to invest in South African companies struggling with the economic fallout from the spread of coronavirus. Ninety One Group was founded in 1991 and is headquartered in Cape Town, South Africa with additional offices in Africa.