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

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

Wall Street Analysts Forecast Growth

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

Conduit Stock Performance

The company has a market capitalization of £692.61 million, a PE ratio of 3.25 and a beta of 0.52. The company’s 50-day moving average is GBX 406.86 and its 200 day moving average is GBX 466.19.

Conduit Announces Dividend

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

Insider Buying and Selling

In related news, insider Neil David Eckert purchased 31,916 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average price of GBX 364 ($4.71) per share, with a total value of £116,174.24 ($150,192.94). Also, insider Trevor Carvey acquired 70,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were bought at an average cost of GBX 340 ($4.40) per share, with a total value of £238,000 ($307,692.31). Insiders bought a total of 111,916 shares of company stock worth $39,257,424 in the last three months. 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.