Key Points
- Insider buying continued at Rathbones Group as Iain Cummings bought 800 shares on June 19 at an average price of GBX 1,622, following a purchase of 1,282 shares the day before.
- The stock was trading lower, opening at GBX 1,582 and falling 2.6%, near its 52-week low of GBX 1,582 and well below its recent moving averages.
- Rathbones also authorized a share buyback, which management often uses as a signal that it believes the stock may be undervalued, while analysts currently rate the shares a consensus “Hold.”
Rathbones Group Plc (LON:RAT - Get Free Report) insider Iain Cummings purchased 800 shares of the company's stock in a transaction that occurred on Friday, June 19th. The shares were purchased at an average price of GBX 1,622 per share, for a total transaction of £12,976.
Iain Cummings also recently made the following trade(s):
- On Thursday, June 18th, Iain Cummings purchased 1,282 shares of Rathbones Group stock. The shares were purchased at an average cost of GBX 1,621 per share, for a total transaction of £20,781.22.
Rathbones Group Trading Down 2.6%
RAT opened at GBX 1,582 on Friday. The company has a quick ratio of 0.14, a current ratio of 190.82 and a debt-to-equity ratio of 14.65. Rathbones Group Plc has a 52 week low of GBX 1,582 and a 52 week high of GBX 2,500. The business's 50 day moving average is GBX 1,958.75 and its two-hundred day moving average is GBX 2,017.29. The firm has a market cap of £1.64 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of -26.52 and a beta of 0.71.
Rathbones Group announced that its board has authorized a stock buyback plan on Wednesday, June 17th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Royal Bank Of Canada cut their target price on shares of Rathbones Group from GBX 2,400 to GBX 1,950 and set an "outperform" rating on the stock in a report on Thursday. Jefferies Financial Group reiterated an "underperform" rating and set a GBX 1,780 price target on shares of Rathbones Group in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rathbones Group presently has a consensus rating of "Hold" and an average price target of GBX 1,982.50.
Read Our Latest Stock Analysis on RAT
Rathbones Group Company Profile
(
Get Free Report)
With roots dating back to 1742, Rathbones is one of the UK's leading providers of investment and wealth management services for private clients (individuals and families), charities, trustees and professional partners. Rathbones' purpose is to help more people invest their money well, so they can live well.
Rathbones has been trusted for generations to manage, preserve and grow clients' wealth and services include discretionary investment management, fund management, tax planning, trust and company management, financial advice and banking services.
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