Insider Selling: Plus500 (LON:PLUS) Insider Sells £42,093,200 in Stock

Plus500 Ltd. (LON:PLUS) insider Elad Even-Chen sold 940,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of GBX 4,478, for a total transaction of £42,093,200.

Plus500 Trading Down 2.7%

Shares of LON PLUS opened at GBX 4,338 on Friday. The business has a fifty day simple moving average of GBX 4,007.77 and a 200 day simple moving average of GBX 3,454.63. The firm has a market capitalization of £3.05 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.24 and a beta of 0.20. Plus500 Ltd. has a one year low of GBX 2,464 and a one year high of GBX 4,974.

Plus500 declared that its board has initiated a share repurchase plan on Monday, February 16th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Liberum Capital reissued a “buy” rating and issued a GBX 3,750 price objective on shares of Plus500 in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,304.67.

Plus500 Company Profile

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.