Stingray Group (TSE:RAY.A) Price Target Raised to C$11.50

Stingray Group (TSE:RAY.A) had its target price raised by CIBC from C$11.00 to C$11.50 in a report released on Friday morning,BayStreet.CA reports.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada boosted their price objective on shares of Stingray Group from C$10.00 to C$11.00 in a research note on Thursday, November 7th. BMO Capital Markets lifted their price objective on Stingray Group from C$10.50 to C$11.00 and gave the stock a “market perform” rating in a report on Friday.

Stingray Group Trading Down 2.6 %

Shares of RAY.A stock opened at C$8.55 on Friday. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The stock has a market capitalization of C$454.35 million, a PE ratio of -29.48, a P/E/G ratio of 1.13 and a beta of 1.07. Stingray Group has a 1-year low of C$6.76 and a 1-year high of C$9.05. The business has a 50-day moving average of C$7.73 and a 200 day moving average of C$7.69.

Insider Buying and Selling

In related news, Senior Officer Mario Dubois sold 4,200 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$8.30, for a total value of C$34,860.00. Also, Senior Officer Ratha Khuong sold 5,000 shares of Stingray Group stock in a transaction on Monday, November 25th. The stock was sold at an average price of C$8.11, for a total transaction of C$40,569.00. Over the last quarter, insiders have sold 22,800 shares of company stock valued at $180,088. 25.46% of the stock is owned by insiders.

About Stingray Group

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.