IG Group Holdings ( (GB:IGG) ) has issued an update.
IG Group Holdings plc announced the purchase of 2,000 of its ordinary shares from Morgan Stanley & Co. International Plc, as part of a previously announced buyback program. The shares, bought at a volume-weighted average price of 929.47 pence, will be held in treasury, bringing the total treasury shares to over 12 million. This move is part of IG Group’s ongoing strategy to manage its capital structure and potentially enhance shareholder value.
Spark’s Take on GB:IGG Stock
According to Spark, TipRanks’ AI Analyst, GB:IGG is a Outperform.
IG Group Holdings presents a strong financial foundation and is undervalued compared to peers, offering a compelling dividend yield. Despite recent revenue growth challenges and decreased free cash flow, the company’s strategic actions like share buybacks and acquisitions support future growth. The technical analysis shows potential downward pressure, which investors should monitor.
To see Spark’s full report on GB:IGG stock, click here.
More about IG Group Holdings
IG Group Holdings plc operates in the financial services industry, primarily offering online trading and investment services. The company focuses on providing a range of trading options, including contracts for difference (CFDs) and spread betting, catering to both retail and institutional clients globally.
YTD Price Performance: -4.10%
Average Trading Volume: 1,031,743
Technical Sentiment Signal: Strong Sell
Current Market Cap: £3.19B
Learn more about IGG stock on TipRanks’ Stock Analysis page.