Key Points
- Insider sale: Plus500 director David Zruia sold 450,792 shares on Feb 17 at an average price of GBX 4,478, totaling £20,186,465.76.
- $100 million buyback: The Board authorized a $100.0 million repurchase program on Feb 16 to buy up to 3% of outstanding shares, indicating management believes the stock may be undervalued.
- Market and analyst context: shares opened at GBX 4,490.90 (down about 4.7%), market cap ~£3.16bn and a PE of 12.47, with a consensus rating of Moderate Buy and a consensus target of GBX 3,304.67 (Liberum: GBX 3,750 buy).
Plus500 Ltd. (LON:PLUS - Get Free Report) insider David Zruia sold 450,792 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of GBX 4,478, for a total transaction of £20,186,465.76.
Plus500 Stock Down 4.7%
Shares of PLUS stock opened at GBX 4,490.90 on Wednesday. Plus500 Ltd. has a 12 month low of GBX 2,464 and a 12 month high of GBX 4,974. The company's fifty day simple moving average is GBX 3,969.33 and its 200-day simple moving average is GBX 3,441.33. The firm has a market cap of £3.16 billion, a PE ratio of 12.47, a P/E/G ratio of 0.24 and a beta of 0.20.
Plus500 announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 16th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Separately, Liberum Capital restated a "buy" rating and issued a GBX 3,750 price objective on shares of Plus500 in a report on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Plus500 presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 3,304.67.
Get Our Latest Stock Report on PLUS
Plus500 Company Profile
(
Get Free Report)
Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
