Plus500 (LON:PLUS – Get 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
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
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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