Conduit (LON:CRE) Sets New 52-Week Low – What’s Next?

Conduit Holdings Limited (LON:CRE) shares reached a new 52-week low on Monday . The stock traded as low as GBX 324.50 ($4.20) and last traded at GBX 328 ($4.24), with a volume of 3514362 shares traded. The stock had previously closed at GBX 353.50 ($4.57).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 700 ($9.05) price target on shares of Conduit in a research note on Monday.

Conduit Trading Down 0.1 %

The stock has a 50 day moving average of GBX 406.86 and a 200-day moving average of GBX 466.19. The company has a market capitalization of £692.61 million, a P/E ratio of 3.25 and a beta of 0.52.

Conduit Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, March 20th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a dividend yield of 3.54%. Conduit’s dividend payout ratio (DPR) is presently 26.41%.

Insider Buying and Selling

In related news, insider Trevor Carvey acquired 70,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was acquired at an average cost of GBX 340 ($4.40) per share, with a total value of £238,000 ($307,692.31). Also, insider Neil David Eckert bought 31,916 shares of the stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of GBX 364 ($4.71) per share, for a total transaction of £116,174.24 ($150,192.94). In the last quarter, insiders bought 111,916 shares of company stock valued at $39,257,424. Company insiders own 6.19% of the company’s stock.

Conduit Company Profile

Conduit Re is a pure play global reinsurance business based in Bermuda. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.