IG Group (LON:IGG) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

IG Group Holdings plc (LON:IGG)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,244.91 and traded as high as GBX 1,462. IG Group shares last traded at GBX 1,448.50, with a volume of 885,916 shares.

IG Group Stock Performance

The company has a market cap of £4.80 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of -1.44 and a beta of 0.48. The company has a quick ratio of 2.40, a current ratio of 3.43 and a debt-to-equity ratio of 30.81. The company’s 50-day moving average is GBX 1,374.32 and its 200 day moving average is GBX 1,244.91.

IG Group (LON:IGG) last posted its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 earnings per share (EPS) for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. Research analysts predict that IG Group Holdings plc will post 104.0295119 EPS for the current year.

IG Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 1st that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About IG Group

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.