3i Group (LON:III) Share Price Crosses Above 200 Day Moving Average – Here’s Why

3i Group (LON:III) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,003.10 ($39.30) and traded as high as GBX 3,294 ($43.11). 3i Group shares last traded at GBX 3,216 ($42.09), with a volume of 791,147 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on III shares. JPMorgan Chase & Co. reissued an “overweight” rating on shares of 3i Group in a research report on Friday, June 28th. Citigroup reissued a “buy” rating and issued a GBX 3,800 ($49.73) target price on shares of 3i Group in a report on Monday, July 15th. Finally, Morgan Stanley downgraded 3i Group to an “equal weight” rating and lowered their price target for the company from GBX 3,246 ($42.48) to GBX 3,192 ($41.77) in a report on Wednesday, July 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 3,148 ($41.20).

3i Group Stock Performance

The firm has a market cap of £31.01 billion, a P/E ratio of 810.08, a P/E/G ratio of -0.35 and a beta of 1.01. The company has a debt-to-equity ratio of 6.20, a quick ratio of 0.09 and a current ratio of 3.23. The business’s 50-day simple moving average is GBX 3,156.38 and its 200 day simple moving average is GBX 3,003.10.

Insider Buying and Selling

In other news, insider Peter McKellar bought 542 shares of the stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of GBX 3,113 ($40.74) per share, with a total value of £16,872.46 ($22,081.48). Insiders bought 551 shares of company stock valued at $1,716,495 over the last 90 days. Company insiders own 3.04% of the company’s stock.

About 3i Group

3i Group plc is a private equity firm specializing in mature companies, growth capital, middle markets, infrastructure, and management leveraged buyouts and buy-ins. The firm also provides infrastructure financing and debt management. For debt management, it invests in senior and mezzanine corporate debt in typically large and private companies in United Kingdom, Europe, Asia, and North America.