Palace Capital Plc (LON:PCA – Get Free Report)’s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 192.11 and traded as low as GBX 168.50. Palace Capital shares last traded at GBX 173, with a volume of 3,733 shares trading hands.
Palace Capital Trading Down 2.9%
The stock has a 50 day simple moving average of GBX 192.11 and a 200-day simple moving average of GBX 203.85. The firm has a market capitalization of £33.99 million, a P/E ratio of 20.25, a P/E/G ratio of 3.37 and a beta of 0.17.
Palace Capital announced that its board has initiated a share buyback plan on Friday, April 17th that permits the company to buyback 400,000,000,000 shares. This buyback authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
About Palace Capital
Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London
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