Stingray Group (TSE:RAY.A) Sets New 1-Year High – Time to Buy?

Stingray Group (TSE:RAY.A) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$9.05 and last traded at C$8.83, with a volume of 187595 shares trading hands. The stock had previously closed at C$8.89.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RAY.A shares. CIBC increased their price objective on Stingray Group from C$11.00 to C$11.50 in a report on Friday. Royal Bank of Canada increased their price target on shares of Stingray Group from C$10.00 to C$11.00 in a report on Thursday, November 7th. Finally, BMO Capital Markets upped their target price on Stingray Group from C$10.50 to C$11.00 and gave the stock a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$10.70.

Stingray Group Stock Performance

The company has a market capitalization of C$454.35 million, a P/E ratio of -29.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. The company’s 50 day moving average is C$7.71 and its 200-day moving average is C$7.69. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45.

Insider Buying and Selling

In other Stingray Group news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of C$7.50, for a total transaction of C$60,008.00. Also, Senior Officer Mario Dubois sold 4,200 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$8.30, for a total value of C$34,860.00. Insiders have sold a total of 22,800 shares of company stock worth $180,088 in the last quarter. Corporate insiders own 25.46% of the company’s stock.

Stingray Group Company Profile

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.