Jupiter Fund Management (LON:JUP) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Jupiter Fund Management Plc (LON:JUP) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 166.32 and traded as low as GBX 161.60. Jupiter Fund Management shares last traded at GBX 162.19, with a volume of 12,300,213 shares.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Jupiter Fund Management from GBX 175 to GBX 180 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Jupiter Fund Management has a consensus rating of “Hold” and an average target price of GBX 152.

Jupiter Fund Management Trading Up 0.4%

The firm’s 50-day moving average price is GBX 161.02 and its 200-day moving average price is GBX 166.32. The stock has a market capitalization of £816.22 million, a PE ratio of 9.08 and a beta of 1.30.

Jupiter Fund Management (LON:JUP) last announced its earnings results on Thursday, February 26th. The company reported GBX 19.40 earnings per share (EPS) for the quarter. Jupiter Fund Management had a net margin of 21.19% and a return on equity of 11.49%. On average, equities research analysts predict that Jupiter Fund Management Plc will post 8.5093781 earnings per share for the current fiscal year.

Jupiter Fund Management announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 8th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, insider Wayne Mepham sold 30,123 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of GBX 157, for a total transaction of £47,293.11. Also, insider James Macpherson purchased 30,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average price of GBX 194 per share, for a total transaction of £58,200. In the last three months, insiders have sold 569,285 shares of company stock worth $106,835,239. 3.97% of the stock is currently owned by corporate insiders.

Jupiter Fund Management Company Profile

Jupiter Fund Management Plc is a publicly owned investment manager. The firm manages mutual funds, hedge funds, client focused portfolios, and multi-manager products for its clients. It invests in the public equity markets across U.K., Europe and global emerging markets. The firm also invests in fixed income markets, fund of funds products, hedge funds, and absolute return funds. Jupiter Fund Management Plc was founded in 1985 and is based in London, United Kingdom.