IG Group (LON:IGG) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

IG Group Holdings plc (LON:IGG)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,318.28 and traded as high as GBX 1,533. IG Group shares last traded at GBX 1,513, with a volume of 1,224,960 shares traded.

IG Group Stock Performance

The stock has a market capitalization of £5.01 billion, a price-to-earnings ratio of 14.40, a PEG ratio of -1.44 and a beta of 0.49. The company’s 50-day moving average is GBX 1,454.16 and its 200-day moving average is GBX 1,318.28. The company has a quick ratio of 2.40, a current ratio of 3.43 and a debt-to-equity ratio of 30.81.

IG Group (LON:IGG) last released its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 earnings per share (EPS) for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. Research analysts anticipate that IG Group Holdings plc will post 104.0295119 earnings per share for the current fiscal year.

IG Group announced that its board has initiated a stock buyback program on Wednesday, April 1st that permits the company to buyback 0 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

IG Group Company Profile

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.