Palace Capital (LON:PCA) Sets New 52-Week Low – Time to Sell?

Palace Capital Plc (LON:PCA)’s stock price hit a new 52-week low on Monday . The stock traded as low as GBX 166 and last traded at GBX 166, with a volume of 844541 shares trading hands. The stock had previously closed at GBX 172.

Palace Capital Stock Performance

The firm has a 50 day simple moving average of GBX 195.62 and a two-hundred day simple moving average of GBX 205.30. The firm has a market capitalization of £35.39 million, a P/E ratio of 21.08, a PEG ratio of 3.37 and a beta of 0.17.

Palace Capital declared that its Board of Directors has authorized a stock repurchase plan on Friday, April 17th that authorizes the company to buyback 400,000,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Palace Capital Company Profile

Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London