Frontier Developments (LON:FDEV) Stock Price Down 9.2% – Here’s What Happened

Frontier Developments plc (LON:FDEV) traded down 9.2% during trading on Tuesday . The company traded as low as GBX 432 and last traded at GBX 432. 247,848 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 200,024 shares. The stock had previously closed at GBX 476.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Shore Capital Group reissued a “buy” rating and issued a GBX 650 price objective on shares of Frontier Developments in a research note on Wednesday, June 10th. Berenberg Bank reissued a “buy” rating and issued a GBX 600 price objective on shares of Frontier Developments in a research note on Wednesday, June 10th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Frontier Developments currently has an average rating of “Buy” and a consensus price target of GBX 618.75.

Frontier Developments Price Performance

The company has a market capitalization of £150.05 million, a price-to-earnings ratio of 8.67, a P/E/G ratio of 2.11 and a beta of 0.03. The company has a debt-to-equity ratio of 19.71, a quick ratio of 2.61 and a current ratio of 2.83. The business has a 50 day moving average price of GBX 389.14 and a 200-day moving average price of GBX 421.32.

Insiders Place Their Bets

In related news, insider David John Braben sold 93,070 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of GBX 378, for a total transaction of £351,804.60. Over the last 90 days, insiders sold 264,070 shares of company stock worth $98,832,460. 37.96% of the stock is currently owned by corporate insiders.

About Frontier Developments

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality.

At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world’s biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players.

We have created games that have defined genres, been critically acclaimed, and reached many millions of players.