OSB Group (LON:OSB) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

OSB Group Plc (LON:OSB)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 517.46 and traded as high as GBX 540. OSB Group shares last traded at GBX 538.50, with a volume of 655,850 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on OSB shares. Shore Capital Group reaffirmed a “buy” rating and set a GBX 680 price objective on shares of OSB Group in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 800 price objective on shares of OSB Group in a research report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 667.80.

OSB Group Stock Performance

The stock has a fifty day moving average of GBX 517.46 and a 200-day moving average of GBX 566.14. The company has a market cap of £1.85 billion, a PE ratio of 7.32 and a beta of 1.11.

OSB Group announced that its board has authorized a share repurchase program on Thursday, March 5th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at OSB Group

In other news, insider Andy Golding sold 11,127 shares of OSB Group stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of GBX 525, for a total transaction of £58,416.75. Also, insider Victoria Hyde sold 5,132 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of GBX 525, for a total transaction of £26,943. Over the last quarter, insiders have sold 52,689 shares of company stock valued at $28,754,625. Corporate insiders own 0.39% of the company’s stock.

About OSB Group

OSB Group Plc, through its subsidiaries, operates as a specialist mortgage lending and retail savings company in the United Kingdom and the Channel Islands. It provides private rented sector related buy-to-let, commercial and semi-commercial mortgages, residential development finance, secured funding, bridging, and asset finance services. The company also provides buy-to-let and specialist residential mortgages, mortgage servicing, administration and analytical, mortgage originator and servicer, and retail savings products; and back office processing services.