Conduit (LON:CRE) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Conduit Holdings Limited (LON:CRE) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 514.23 ($6.67) and traded as high as GBX 526 ($6.82). Conduit shares last traded at GBX 518 ($6.72), with a volume of 125,428 shares.

Analysts Set New Price Targets

Several analysts have recently commented on CRE shares. Jefferies Financial Group increased their target price on Conduit from GBX 710 ($9.21) to GBX 720 ($9.34) and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 675 ($8.75) price target on shares of Conduit in a report on Thursday, August 1st.

Conduit Trading Up 3.1 %

The stock has a market capitalization of £827.28 million, a P/E ratio of 520.79 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 1.19. The business’s 50 day simple moving average is GBX 527.24 and its 200-day simple moving average is GBX 514.53.

Insider Activity at Conduit

In other news, insider Stephen Redmond bought 15,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of GBX 530 ($6.87) per share, for a total transaction of £79,500 ($103,099.47). In other Conduit news, insider Trevor Carvey bought 2,500 shares of Conduit stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of GBX 524 ($6.80) per share, for a total transaction of £13,100 ($16,988.72). Also, insider Stephen Redmond purchased 15,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of GBX 530 ($6.87) per share, for a total transaction of £79,500 ($103,099.47). 6.19% of the stock is currently owned by insiders.

Conduit Company Profile

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.