Frontier Developments (LON:FDEV) Shares Down 12.9% – Here’s Why

Frontier Developments plc (LON:FDEV)’s stock price traded down 12.9% during trading on Wednesday. The company traded as low as GBX 556 and last traded at GBX 560. Approximately 556,434 shares traded hands during mid-day trading, an increase of 224% from the average session volume of 171,775 shares. The stock had previously closed at GBX 643.

Analyst Upgrades and Downgrades

FDEV has been the subject of a number of research reports. Shore Capital Group raised Frontier Developments to a “buy” rating and set a GBX 650 price target for the company in a research note on Wednesday, September 9th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 600 price objective on shares of Frontier Developments in a research note on Wednesday, September 9th. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Frontier Developments presently has a consensus rating of “Buy” and a consensus price target of GBX 618.75.

Frontier Developments Stock Down 12.9%

The company has a debt-to-equity ratio of 16.51, a current ratio of 3.50 and a quick ratio of 2.61. The company’s 50-day simple moving average is GBX 510.90 and its 200 day simple moving average is GBX 439.30. The firm has a market cap of £189.60 million, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03.

Frontier Developments (LON:FDEV) last posted its earnings results on Wednesday, September 9th. The company reported GBX 74.60 earnings per share for the quarter. Frontier Developments had a net margin of 26.03% and a return on equity of 27.12%. Research analysts anticipate that Frontier Developments plc will post 7.09 EPS for the current fiscal year.

Insider Activity at Frontier Developments

In related news, insider Alex Bevis sold 50,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of GBX 516, for a total value of £258,000. Insiders own 39.02% of the company’s stock.

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.