Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Focusrite ( (GB:TUNE) ) just unveiled an update.
Focusrite plc announced that its non-executive chairman, Philip Dudderidge, and his closely associated person, Jennifer Dudderidge, have gifted a combined 19,266,000 ordinary shares into a sub-fund of The Dudderidge Family Discretionary Settlement 2024, over which they act as trustees. The move consolidates the family’s beneficial interest in approximately 32.54% of Focusrite’s issued share capital without any shares being sold, while legal title to these shares has been transferred from Goldman Sachs International to UBS AG Wealth Management, signalling a restructuring of long-term family ownership and custody arrangements rather than a change in underlying economic control for existing shareholders.
The most recent analyst rating on (GB:TUNE) stock is a Hold with a £229.00 price target. To see the full list of analyst forecasts on Focusrite stock, see the GB:TUNE Stock Forecast page.
Spark’s Take on GB:TUNE Stock
According to Spark, TipRanks’ AI Analyst, GB:TUNE is a Neutral.
Focusrite’s overall stock score is driven by stable financial performance and positive technical indicators. The strong balance sheet and moderate revenue growth support the financial performance score, while the technical analysis reflects a positive trend. However, the relatively high valuation and modest dividend yield limit the score. The absence of earnings call and corporate events data did not impact the score.
To see Spark’s full report on GB:TUNE stock, click here.
More about Focusrite
Focusrite plc is a global audio products group that develops and markets proprietary hardware and software used by musicians and audio professionals for high-quality recorded and live sound. Trading on London’s AIM market, the group spans 13 brands including Focusrite, Focusrite Pro, Novation, Ampify, ADAM Audio, Martin Audio, Sequential, Oberheim, Sonnox, TiMax, OutBoard, Optimal Audio and Linea Research, covering audio interfaces, studio monitors, synthesizers, controllers, audio plug-ins, immersive audio and sound reinforcement systems. Focusrite operates across four continents with a distribution network reaching around 240 territories, positioning its brands as category leaders in music-making and audio reproduction markets.
Average Trading Volume: 151,342
Technical Sentiment Signal: Hold
Current Market Cap: £132.8M
See more insights into TUNE stock on TipRanks’ Stock Analysis page.