BT Group PLC (BT) Shares Gap Up to $25.36
BT Group PLC (NYSE:BT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $25.26, but opened at $25.36. BT Group PLC shares last traded at $25.55, with a volume of 221,340 shares changing hands.
A number of brokerages have issued reports on BT. Haitong Bank reduced their price objective on shares of BT Group PLC from GBX 600 ($7.83) to GBX 560 ($7.31) and set a “buy” rating on the stock in a research note on Tuesday, August 2nd. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of BT Group PLC in a research note on Wednesday, July 27th. Barclays PLC reaffirmed an “overweight” rating on shares of BT Group PLC in a research note on Tuesday, August 23rd. Deutsche Bank AG reaffirmed a “sell” rating and issued a GBX 410 ($5.35) price objective on shares of BT Group PLC in a research note on Wednesday, July 20th. Finally, Morgan Stanley reduced their price target on shares of BT Group PLC from GBX 500 ($6.53) to GBX 480 ($6.27) and set an “equal weight” rating on the stock in a research report on Friday, June 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $453.39.
The stock has a market cap of $51.27 billion, a P/E ratio of 13.24 and a beta of 1.09. The firm has a 50-day moving average of $26.08 and a 200-day moving average of $29.44.
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A number of hedge funds and other institutional investors have recently modified their holdings of BT. Miller Howard Investments Inc. NY bought a new position in shares of BT Group PLC during the second quarter valued at about $7,453,000. Thornburg Investment Management Inc. bought a new position in shares of BT Group PLC during the second quarter valued at about $6,736,000. Renaissance Technologies LLC raised its position in shares of BT Group PLC by 4.5% in the first quarter. Renaissance Technologies LLC now owns 3,871,801 shares of the company’s stock valued at $124,207,000 after buying an additional 165,101 shares in the last quarter. Royal Bank of Canada raised its position in shares of BT Group PLC by 19.9% in the first quarter. Royal Bank of Canada now owns 741,807 shares of the company’s stock valued at $23,796,000 after buying an additional 122,967 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of BT Group PLC during the first quarter valued at about $3,305,000. 1.17% of the stock is currently owned by institutional investors and hedge funds.
About BT Group PLC
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