Conduit (LON:CRE) Reaches New 12-Month Low – Time to Sell?

Conduit Holdings Limited (LON:CRE) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 354.50 ($4.58) and last traded at GBX 357.88 ($4.62), with a volume of 978579 shares. The stock had previously closed at GBX 371.50 ($4.80).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 700 ($9.04) target price on shares of Conduit in a research report on Wednesday, February 12th.

Conduit Stock Performance

The firm’s 50 day simple moving average is GBX 421.71 and its 200-day simple moving average is GBX 475.68. The company has a market cap of £713.72 million, a price-to-earnings ratio of 3.35 and a beta of 0.52.

Conduit Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Trevor Carvey acquired 10,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of GBX 384 ($4.96) per share, for a total transaction of £38,400 ($49,580.37). Corporate insiders own 6.19% of the company’s stock.

About Conduit

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.