IG Group (LON:IGG) Shares Cross Above 200-Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,489.79 and traded as high as GBX 1,843. IG Group shares last traded at GBX 1,818, with a volume of 83,957,313 shares changing hands.

Analysts Set New Price Targets

IGG has been the subject of several research reports. Royal Bank Of Canada upped their price target on shares of IG Group from GBX 1,600 to GBX 1,850 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,250 price objective on shares of IG Group in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of IG Group from GBX 1,650 to GBX 1,750 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of GBX 1,288.

IG Group Stock Down 0.8%

The business has a 50 day moving average of GBX 1,730.81 and a two-hundred day moving average of GBX 1,489.79. The stock has a market capitalization of £6.01 billion, a PE ratio of 17.30, a PEG ratio of -1.44 and a beta of 0.53. The company has a debt-to-equity ratio of 31.16, a quick ratio of 2.40 and a current ratio of 215.53.

IG Group declared that its Board of Directors has approved a share buyback program on Wednesday, April 1st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About IG Group

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.