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Frontier Developments ( (GB:FDEV) ) just unveiled an announcement.
Frontier Developments has continued its recently launched share buyback, repurchasing 34,683 ordinary shares on 3 March at 380 pence each through Peel Hunt, and intends to hold these shares in treasury. Following this latest transaction, the company has bought back a total of 118,321 shares under the current programme, leaving 39,478,535 shares in issue, of which 2,636,848 are held in treasury, and setting total voting rights at 36,841,687 for regulatory disclosure purposes.
The reduction in free float and concentration of voting rights may provide a modest earnings-per-share benefit and signals management’s willingness to deploy capital in support of the share price. The updated voting rights figure also clarifies the reference base shareholders must use when assessing notification thresholds for changes in their holdings under UK disclosure and transparency rules.
The most recent analyst rating on (GB:FDEV) stock is a Buy with a £435.00 price target. To see the full list of analyst forecasts on Frontier Developments stock, see the GB:FDEV Stock Forecast page.
Spark’s Take on GB:FDEV Stock
According to Spark, TipRanks’ AI Analyst, GB:FDEV is a Outperform.
The score is driven primarily by improving financial performance and cash-flow strength alongside a solid balance sheet, with a strong uptrend in the stock price providing additional support. Valuation also contributes positively due to the low P/E, while the main offsetting risk is the significant decline in gross margin.
To see Spark’s full report on GB:FDEV stock, click here.
More about Frontier Developments
Frontier Developments PLC is a UK-listed video game developer and publisher, trading on AIM under the ticker FDEV. The company focuses on creating and operating videogame franchises and related entertainment content for global consumer markets.
Average Trading Volume: 140,988
Technical Sentiment Signal: Sell
Current Market Cap: £140.1M
Learn more about FDEV stock on TipRanks’ Stock Analysis page.