Insider Buying: Conduit Holdings Limited (LON:CRE) Insider Acquires £79,500 in Stock

Conduit Holdings Limited (LON:CRE) insider Stephen Redmond acquired 15,000 shares of Conduit stock in a transaction on Wednesday, September 4th. The stock was acquired at an average price of GBX 530 ($6.97) per share, with a total value of £79,500 ($104,536.49).

Conduit Price Performance

LON CRE opened at GBX 531 ($6.98) on Friday. The firm’s 50-day simple moving average is GBX 515.45 and its two-hundred day simple moving average is GBX 510.06. The company has a market cap of £833.56 million, a PE ratio of 531.00 and a beta of 0.53. Conduit Holdings Limited has a 52 week low of GBX 428.32 ($5.63) and a 52 week high of GBX 549.74 ($7.23). The company has a quick ratio of 1.19, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Conduit Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a $0.18 dividend. This represents a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, August 15th. Conduit’s dividend payout ratio (DPR) is presently 2,800.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRE shares. Royal Bank of Canada restated an “outperform” rating and set a GBX 675 ($8.88) price target on shares of Conduit in a research report on Thursday, August 1st. Jefferies Financial Group increased their target price on shares of Conduit from GBX 710 ($9.34) to GBX 720 ($9.47) and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Berenberg Bank lifted their price target on shares of Conduit from GBX 695 ($9.14) to GBX 700 ($9.20) and gave the stock a “buy” rating in a report on Wednesday, May 15th.

About Conduit

Conduit Holdings Limited, together with its subsidiaries, provides reinsurance products and services worldwide. It operates in three divisions: Property, Casualty, and Specialty. The property division offers catastrophe and non-catastrophe property reinsurance products. The Casualty division provides director's and officer's, financial institutions, general, professional, and transactional liability, as well as medical malpractice reinsurance products.