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The latest update is out from City of London Investment Trust PLC ( (GB:CTY) ).
City of London Investment Trust PLC has announced the sale of 400,000 ordinary shares from its treasury at a price of 510.5p per share. This transaction maintains the company’s issued ordinary share capital at 502,664,868 shares, with 2,647,762 held in treasury and not carrying voting rights. The total number of voting rights is now 33,394,155, which shareholders can use to determine their reporting obligations under the FCA’s Disclosure Guidance and Transparency Rules.
Spark’s Take on GB:CTY Stock
According to Spark, TipRanks’ AI Analyst, GB:CTY is a Neutral.
City of London Investment Trust PLC benefits from strong financial performance and an attractive valuation, particularly in terms of its low P/E ratio and consistent dividend policy. However, technical indicators suggest potential price weakness, and limited cash flow transparency poses some risk. Recent corporate events show management’s confidence, but the technical analysis and cash flow opacity weigh more heavily on the overall score.
To see Spark’s full report on GB:CTY stock, click here.
More about City of London Investment Trust PLC
City of London Investment Trust PLC operates in the investment management industry, focusing on providing investment trust services. It is managed by Janus Henderson Fund Management UK Limited and is known for its investment in a diversified portfolio aimed at generating long-term growth and income.
Average Trading Volume: 849,361
Technical Sentiment Signal: Buy
For a thorough assessment of CTY stock, go to TipRanks’ Stock Analysis page.