Stingray Group (TSE:RAY.A - Get Free Report) had its price target raised by research analysts at CIBC from C$11.00 to C$11.50 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC's price objective points to a potential upside of 35.61% from the company's previous close.
A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets upped their price objective on Stingray Group from C$10.50 to C$11.00 and gave the stock a "market perform" rating in a report on Friday. Royal Bank of Canada boosted their price target on Stingray Group from C$10.00 to C$11.00 in a report on Thursday, November 7th.
Check Out Our Latest Stock Analysis on Stingray Group
Stingray Group Price Performance
Shares of RAY.A stock traded down C$0.04 on Friday, reaching C$8.48. The company's stock had a trading volume of 26,047 shares, compared to its average volume of 47,828. Stingray Group has a 12-month low of C$6.76 and a 12-month high of C$9.05. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The company has a market capitalization of C$450.63 million, a P/E ratio of -29.24, a PEG ratio of 1.13 and a beta of 1.07. The stock's 50 day simple moving average is C$7.74 and its 200-day simple moving average is C$7.70.
Insider Activity at Stingray Group
In related news, Senior Officer Mario Dubois sold 4,200 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$8.30, for a total value of C$34,860.00. Also, Senior Officer Lloyd Perry Feldman sold 8,000 shares of Stingray Group stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of C$7.50, for a total value of C$60,008.00. Insiders sold 22,800 shares of company stock valued at $180,088 over the last 90 days. Corporate insiders own 25.46% of the company's stock.
About Stingray Group
(
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Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.
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