Conduit (LON:CRE) Stock Passes Above Two Hundred Day Moving Average of $512.24

Conduit Holdings Limited (LON:CRE)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 512.24 ($6.77) and traded as high as GBX 546 ($7.21). Conduit shares last traded at GBX 546 ($7.21), with a volume of 336,537 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRE shares. Jefferies Financial Group lifted their price objective on Conduit from GBX 710 ($9.38) to GBX 720 ($9.51) and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a GBX 675 ($8.92) price target on shares of Conduit in a research report on Thursday, August 1st.

Conduit Trading Up 2.2 %

The company has a market cap of £857.11 million, a price-to-earnings ratio of 546.00 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 has a 50 day simple moving average of GBX 523.50 and a 200 day simple moving average of GBX 512.24.

Conduit Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.18 per share. This represents a yield of 2.68%. The ex-dividend date was Thursday, August 15th. Conduit’s dividend payout ratio is currently 2,800.00%.

Insiders Place Their Bets

In other news, insider Trevor Carvey acquired 2,500 shares of Conduit stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of GBX 524 ($6.92) per share, with a total value of £13,100 ($17,305.15). In other news, insider Trevor Carvey acquired 2,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of GBX 524 ($6.92) per share, with a total value of £13,100 ($17,305.15). Also, insider Stephen Redmond bought 15,000 shares of Conduit stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of GBX 530 ($7.00) per share, for a total transaction of £79,500 ($105,019.82). Insiders own 6.19% of the company’s stock.

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.