OSB Group (LON:OSB) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of OSB Group Plc (LON:OSB) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 517.46 and traded as high as GBX 540. OSB Group shares last traded at GBX 538.50, with a volume of 655,850 shares.

Analyst Upgrades and Downgrades

OSB has been the topic of several research analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 800 price objective on shares of OSB Group in a research report on Thursday, March 26th. Shore Capital Group reiterated a “buy” rating and set a GBX 680 target price on shares of OSB Group in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 667.80.

OSB Group Price Performance

The business’s fifty day moving average is GBX 517.46 and its two-hundred day moving average is GBX 566.14. The stock has a market capitalization of £1.85 billion, a PE ratio of 7.32 and a beta of 1.11.

OSB Group announced that its board has authorized a share repurchase program on Thursday, March 5th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Andy Golding sold 11,127 shares of OSB Group stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of GBX 525, for a total value of £58,416.75. Also, insider Victoria Hyde sold 5,132 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of GBX 525, for a total value of £26,943. Insiders have sold a total of 52,689 shares of company stock worth $28,754,625 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

About OSB Group

OSB Group Plc, through its subsidiaries, operates as a specialist mortgage lending and retail savings company in the United Kingdom and the Channel Islands. It provides private rented sector related buy-to-let, commercial and semi-commercial mortgages, residential development finance, secured funding, bridging, and asset finance services. The company also provides buy-to-let and specialist residential mortgages, mortgage servicing, administration and analytical, mortgage originator and servicer, and retail savings products; and back office processing services.