IWG (LON:IWG) Share Price Crosses Below Fifty Day Moving Average - Here's What Happened

IWG plc (LON:IWG - Get Free Report)'s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 183.41 ($2.34) and traded as low as GBX 165.10 ($2.11). IWG shares last traded at GBX 167.60 ($2.14), with a volume of 104,938,844 shares traded.

IWG Stock Down 7.7 %

The company has a current ratio of 0.41, a quick ratio of 0.45 and a debt-to-equity ratio of 12,629.31. The firm has a 50 day simple moving average of GBX 182.28 and a two-hundred day simple moving average of GBX 171.40. The company has a market capitalization of £1.51 billion, a PE ratio of -11.19, a P/E/G ratio of -5.59 and a beta of 2.10.

IWG Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a yield of 0.39%. This is an increase from IWG's previous dividend of $0.00. IWG's dividend payout ratio is presently -7.44%.

IWG announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are 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.