Share Repurchase Program Initiated by Moonpig Group (LON:MOON)

Moonpig Group (LON:MOON) declared that its board has approved a share buyback program on Tuesday, November 3rd, RTT News reports. The company plans to repurchase £32.50 million in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 300 price objective on shares of Moonpig Group in a report on Wednesday, September 16th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 289.17.

Moonpig Group Price Performance

MOON stock opened at GBX 289 on Friday. The firm has a market cap of £852.88 million, a price-to-earnings ratio of 18.53 and a beta of 0.93. Moonpig Group has a 1-year low of GBX 193.40 and a 1-year high of GBX 301.40. The firm has a fifty day moving average price of GBX 276.86 and a two-hundred day moving average price of GBX 241.72. The company has a debt-to-equity ratio of -216.13, a current ratio of 0.21 and a quick ratio of 0.46.

Insider Activity at Moonpig Group

In other news, insider Andy MacKinnon sold 173,645 shares of Moonpig Group stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of GBX 272, for a total value of £472,314.40. Company insiders own 2.76% of the company’s stock.

Moonpig Group Company Profile

Moonpig Group plc is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its core markets and is also the UK market leader in gift experiences. The Moonpig brand also operates in Ireland, Australia and the United States.

The Group’s leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.