IWG (LON:IWG) Stock Price Down 1.5% - Here's Why

IWG plc (LON:IWG - Get Free Report) shares fell 1.5% during trading on Wednesday . The stock traded as low as GBX 180.20 ($2.33) and last traded at GBX 180.40 ($2.33). 94,707,406 shares were traded during mid-day trading, an increase of 1,288% from the average session volume of 6,822,095 shares. The stock had previously closed at GBX 183.10 ($2.37).

IWG Stock Up 0.3 %

The company has a quick ratio of 0.45, a current ratio of 0.41 and a debt-to-equity ratio of 12,629.31. The company has a 50 day simple moving average of GBX 181.87 and a two-hundred day simple moving average of GBX 171.84. The company has a market capitalization of £1.88 billion, a P/E ratio of -13.94, a PEG ratio of -5.59 and a beta of 2.10.

IWG Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 1st will be issued a dividend of $0.01 per share. This represents a yield of 0.39%. The ex-dividend date is Thursday, May 1st. This is a positive change from IWG's previous dividend of $0.00. IWG's dividend payout ratio is presently -7.44%.

IWG declared that its board has authorized a share buyback plan on Tuesday, March 4th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

About IWG

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products.