Insider Buying: IWG (LON:IWG) Insider Acquires £86,000 in Stock

IWG plc (LON:IWG) insider Christian Schmitz acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of GBX 172 per share, for a total transaction of £86,000.

Christian Schmitz also recently made the following trade(s):

• On Wednesday, August 19th, Christian Schmitz acquired 25,000 shares of IWG stock. The stock was purchased at an average cost of GBX 172 per share, for a total transaction of £43,000.

IWG Stock Performance

Shares of LON:IWG opened at GBX 175 on Thursday. IWG plc has a 12-month low of GBX 163.50 and a 12-month high of GBX 250.60. The company’s 50 day moving average price is GBX 188.36 and its two-hundred day moving average price is GBX 193.74. The firm has a market cap of £1.64 billion, a PE ratio of 97.22, a PEG ratio of -5.59 and a beta of 1.56. The company has a quick ratio of 0.45, a current ratio of 0.43 and a debt-to-equity ratio of -1,917.40.

IWG declared that its Board of Directors has initiated a share repurchase plan on Tuesday, June 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

IWG has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 260 price objective on shares of IWG in a research report on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 target price on shares of IWG in a research note on Wednesday, August 12th. Berenberg Bank reiterated a “buy” rating and set a GBX 350 price target on shares of IWG in a report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 275 price target on shares of IWG in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, IWG presently has an average rating of “Moderate Buy” and an average target price of GBX 269.80.

IWG Company Profile

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products. It provides its services franchise partners, landlords, and property owners under the Regus, Spaces, HQ, Signature, Basepoint, Stop & Work, The Office Operators, BizDojo, Open Office, No18, The Clubhouse, Central Working, and Copernico brands.