Plus500 (LON:PLUS) to Repurchase $100.00 million in Stock

Plus500 (LON:PLUSGet Free Report) announced that its Board of Directors has authorized a share buyback program on Monday, February 16th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Liberum Capital restated a “buy” rating and issued a GBX 3,750 price objective on shares of Plus500 in a research note on Tuesday, November 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,304.67.

Check Out Our Latest Research Report on Plus500

Plus500 Price Performance

LON:PLUS opened at GBX 4,490.90 on Wednesday. The firm has a market cap of £3.16 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.24 and a beta of 0.20. The firm’s fifty day moving average price is GBX 3,969.33 and its 200 day moving average price is GBX 3,441.33. Plus500 has a 1-year low of GBX 2,464 and a 1-year high of GBX 4,974.

Insider Buying and Selling at Plus500

In other news, insider Elad Even-Chen sold 940,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of GBX 4,478, for a total transaction of £42,093,200. Also, insider David Zruia sold 450,792 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of GBX 4,478, for a total transaction of £20,186,465.76. 51.40% of the stock is currently owned by company insiders.

Plus500 Company Profile

Get Free Report)

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.

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