Stock Repurchase Plan Declared by Moonpig Group (LON:MOON) Board of Directors

Moonpig Group (LON:MOON) announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 7th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Moonpig Group Stock Up 1.7%

Moonpig Group stock traded up GBX 3.71 during mid-day trading on Thursday, hitting GBX 219.31. The company had a trading volume of 100,694,211 shares, compared to its average volume of 6,570,866. Moonpig Group has a 12 month low of GBX 190.20 and a 12 month high of GBX 262.50. The company has a market capitalization of £666.30 million, a PE ratio of 15.89 and a beta of 1.01. The stock’s 50 day moving average price is GBX 213.02 and its two-hundred day moving average price is GBX 210.68. The company has a current ratio of 0.30, a quick ratio of 0.46 and a debt-to-equity ratio of -271.84.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MOON. Jefferies Financial Group reiterated a “buy” rating and set a GBX 315 target price on shares of Moonpig Group in a report on Friday, March 20th. JPMorgan Chase & Co. increased their price objective on Moonpig Group from GBX 275 to GBX 285 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Moonpig Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 300.83.

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.