Conduit (LON:CRE) Reaches New 1-Year Low – Here’s What Happened

Conduit Holdings Limited (LON:CRE)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as GBX 354.50 ($4.61) and last traded at GBX 357.88 ($4.66), with a volume of 978579 shares. The stock had previously closed at GBX 371.50 ($4.83).

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 700 ($9.11) price objective on shares of Conduit in a research note on Wednesday, February 12th.

Conduit Trading Down 3.3 %

The stock’s fifty day moving average is GBX 426.23 and its two-hundred day moving average is GBX 477.69. The firm has a market cap of £722.36 million, a P/E ratio of 3.39 and a beta of 0.52.

Conduit Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Trevor Carvey bought 10,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of GBX 384 ($5.00) per share, with a total value of £38,400 ($49,954.47). 6.19% of the stock is owned by insiders.

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.