Jupiter Fund Management (LON:JUP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Jupiter Fund Management Plc (LON:JUP)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 171.04 and traded as high as GBX 174. Jupiter Fund Management shares last traded at GBX 171.60, with a volume of 568,482 shares trading hands.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft boosted their price objective on Jupiter Fund Management from GBX 180 to GBX 190 and gave the company a “hold” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 155.33.

Jupiter Fund Management Stock Up 0.8%

The firm has a market capitalization of £851.00 million, a P/E ratio of 9.59 and a beta of 1.30. The firm’s 50-day moving average is GBX 164.94 and its 200 day moving average is GBX 171.04. The company has a debt-to-equity ratio of 4.27, a quick ratio of 1.79 and a current ratio of 2.46.

Jupiter Fund Management declared that its board has initiated a share buyback program on Wednesday, April 8th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Matthew Beesley purchased 671 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of GBX 164 per share, with a total value of £1,100.44. Also, insider Wayne Mepham purchased 765 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of GBX 164 per share, for a total transaction of £1,254.60. Company insiders own 4.12% of the company’s stock.

Jupiter Fund Management Company Profile

Jupiter Fund Management Plc is a publicly owned investment manager. The firm manages mutual funds, hedge funds, client focused portfolios, and multi-manager products for its clients. It invests in the public equity markets across U.K., Europe and global emerging markets. The firm also invests in fixed income markets, fund of funds products, hedge funds, and absolute return funds. Jupiter Fund Management Plc was founded in 1985 and is based in London, United Kingdom.