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IG Group Holdings ( (GB:IGG) ) just unveiled an update.
IG Group Holdings plc announced the repurchase of 111,162 of its ordinary shares from Morgan Stanley & Co. International Plc, as part of a previously announced buyback program. The shares will be held in treasury, bringing the total number of treasury shares to 20,287,849. This move is part of IG Group’s ongoing strategy to manage its capital structure and may impact shareholder value by potentially increasing earnings per share.
The most recent analyst rating on (GB:IGG) stock is a Buy with a £1316.00 price target. To see the full list of analyst forecasts on IG Group Holdings stock, see the GB:IGG Stock Forecast page.
Spark’s Take on GB:IGG Stock
According to Spark, TipRanks’ AI Analyst, GB:IGG is a Outperform.
IG Group Holdings exhibits strong technical indicators and an attractive valuation, which are the most significant factors driving the score. The company’s solid financial performance, despite some challenges in revenue and cash flow growth, supports its stability. The ongoing share buyback program further enhances shareholder value, reflecting positively on the company’s strategic management.
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 services for financial derivatives, including contracts for difference (CFDs) and spread betting. The company focuses on providing trading solutions to retail and institutional clients worldwide.
Average Trading Volume: 985,511
Technical Sentiment Signal: Buy
Current Market Cap: £3.94B
See more insights into IGG stock on TipRanks’ Stock Analysis page.