Palace Capital Plc (LON:PCA – Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 172.09 and traded as low as GBX 164.50. Palace Capital shares last traded at GBX 165, with a volume of 126,189 shares traded.
Palace Capital Trading Up 2.1%
The stock has a market cap of £33.00 million, a P/E ratio of 20.36, a PEG ratio of 3.37 and a beta of 0.13. The firm’s 50-day simple moving average is GBX 171.58 and its 200 day simple moving average is GBX 193.91.
Palace Capital declared that its board has initiated a stock repurchase plan on Friday, April 17th that authorizes the company to repurchase 400,000,000,000 shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
About Palace Capital
Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London
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