BMO Capital Markets Raises Stingray Group (TSE:RAY.A) Price Target to C$10.50

Stingray Group (TSE:RAY.A) had its target price hoisted by BMO Capital Markets from C$9.50 to C$10.50 in a report released on Thursday, BayStreet.CA reports.

RAY.A has been the topic of several other reports. Royal Bank of Canada boosted their price objective on shares of Stingray Group from C$9.00 to C$10.00 and gave the company an outperform rating in a report on Tuesday, April 30th. National Bankshares increased their price objective on shares of Stingray Group from C$9.50 to C$10.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, CIBC boosted their target price on Stingray Group from C$10.00 to C$10.50 and gave the company an outperform rating in a research report on Thursday, June 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and an average target price of C$9.83.

Stingray Group Trading Down 1.8 %

TSE:RAY.A traded down C$0.15 on Thursday, reaching C$8.00. The company’s stock had a trading volume of 40,742 shares, compared to its average volume of 37,616. Stingray Group has a 12-month low of C$4.21 and a 12-month high of C$8.54. The stock has a 50 day moving average price of C$7.67 and a 200 day moving average price of C$7.50. The firm has a market cap of C$402.08 million, a price-to-earnings ratio of -40.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08. The company has a quick ratio of 0.69, a current ratio of 0.90 and a debt-to-equity ratio of 155.56.

Insider Activity at Stingray Group

In other news, insider Mavrik Corp. bought 140,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of C$7.15 per share, for a total transaction of C$1,001,000.00. In other news, insider Mavrik Corp. bought 140,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of C$7.15 per share, for a total transaction of C$1,001,000.00. Also, Senior Officer David Purdy bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average cost of C$7.15 per share, for a total transaction of C$715,000.00. Company insiders own 24.33% of the company’s stock.

About Stingray Group

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.