Conduit (LON:CRE) Receives Buy Rating from Berenberg Bank

Conduit (LON:CRE - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Berenberg Bank in a research report issued on Monday, Marketbeat Ratings reports. They presently have a GBX 700 ($9.17) target price on the stock. Berenberg Bank's price objective would suggest a potential upside of 112.44% from the company's previous close.

Conduit Stock Down 3.1 %

Shares of CRE traded down GBX 10.50 ($0.14) during trading hours on Monday, hitting GBX 329.50 ($4.32). The company had a trading volume of 8,283,344 shares, compared to its average volume of 1,082,886. Conduit has a 52-week low of GBX 316 ($4.14) and a 52-week high of GBX 549.74 ($7.20). The stock's 50 day moving average price is GBX 402.05 and its 200 day moving average price is GBX 463.44. The firm has a market cap of £662.45 million, a P/E ratio of 3.11 and a beta of 0.52.

Insider Buying and Selling

In related news, insider Trevor Carvey purchased 70,000 shares of Conduit stock in a transaction that occurred on Tuesday, April 1st. The shares were bought at an average price of GBX 340 ($4.45) per share, for a total transaction of £238,000 ($311,844.86). Also, insider Neil David Eckert acquired 31,916 shares of the stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of GBX 364 ($4.77) per share, with a total value of £116,174.24 ($152,219.92). Insiders have bought a total of 170,416 shares of company stock valued at $59,205,924 over the last three months. 6.19% of the stock is owned by company insiders.

About Conduit

Conduit Re is a pure play global reinsurance business based in Bermuda. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.