IG Group (LON:IGG) Shares Pass Above Two Hundred Day Moving Average of $706.71

IG Group Holdings plc (LON:IGG)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 706.71 ($8.73) and traded as high as GBX 740 ($9.14). IG Group shares last traded at GBX 732.50 ($9.05), with a volume of 754,933 shares changing hands.

Wall Street Analysts Forecast Growth

IGG has been the topic of a number of recent analyst reports. Shore Capital restated a “buy” rating on shares of IG Group in a report on Thursday, March 14th. Canaccord Genuity Group lowered their price target on shares of IG Group from GBX 859 ($10.61) to GBX 782 ($9.66) and set a “buy” rating on the stock in a report on Thursday, February 29th.

IG Group Stock Up 0.6 %

The business’s 50 day moving average is GBX 720.25 and its 200 day moving average is GBX 707.43. The company has a market capitalization of £2.77 billion, a price-to-earnings ratio of 995.95, a PEG ratio of -1.44 and a beta of 0.52. The company has a debt-to-equity ratio of 17.18, a quick ratio of 2.40 and a current ratio of 2.25.

Insiders Place Their Bets

In other IG Group news, insider Robert Michael McTighe purchased 10,000 shares of IG Group stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of GBX 679 ($8.39) per share, with a total value of £67,900 ($83,868.58). 5.72% of the stock is currently owned by insiders.

About IG Group

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.