IG Group (LON:IGG) Sets New 52-Week High – What’s Next?

Shares of IG Group Holdings plc (LON:IGG) hit a new 52-week high on Wednesday . The stock traded as high as GBX 1,545 and last traded at GBX 1,533, with a volume of 53581133 shares trading hands. The stock had previously closed at GBX 1,536.

IG Group Stock Down 0.1%

The firm has a market capitalization of £5.08 billion, a PE ratio of 14.57, a P/E/G ratio of -1.44 and a beta of 0.48. The firm’s 50 day moving average price is GBX 1,401.44 and its two-hundred day moving average price is GBX 1,274.02. The company has a quick ratio of 2.40, a current ratio of 3.43 and a debt-to-equity ratio of 30.81.

IG Group (LON:IGG) last posted its quarterly earnings results on Thursday, March 19th. The company reported GBX 196.66 earnings per share (EPS) for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. As a group, research analysts forecast that IG Group Holdings plc will post 104.0295119 EPS for the current fiscal year.

IG Group announced that its board has initiated a stock repurchase plan on Wednesday, April 1st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

IG Group Company Profile

IG Group Holdings plc (“IG”) is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands – IG, tastytrade, Freetrade and Independent Reserve – the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.