Plus500 (LON:PLUS) Insider Elad Even-Chen Sells 940,000 Shares

Plus500 Ltd. (LON:PLUS) insider Elad Even-Chen sold 940,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of GBX 4,478, for a total value of £42,093,200.

Plus500 Stock Down 4.7%

Shares of Plus500 stock traded down GBX 223.10 during trading hours on Tuesday, reaching GBX 4,490.90. 43,606,102 shares of the stock traded hands, compared to its average volume of 2,049,994. Plus500 Ltd. has a one year low of GBX 2,464 and a one year high of GBX 4,974. The firm has a market capitalization of £3.16 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.24 and a beta of 0.20. The company has a 50 day moving average price of GBX 3,948.24 and a 200 day moving average price of GBX 3,433.52.

Plus500 announced that its board has authorized a share repurchase plan on Monday, February 16th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Liberum Capital reiterated a “buy” rating and issued a GBX 3,750 price objective on shares of Plus500 in a report on Tuesday, November 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 3,304.67.

About Plus500

Plus500 Ltd., a fintech company, operates technology-based trading platforms in Europe, the United Kingdom, Australia, and internationally. The company develops and operates an online trading platform, including over the counter (OTC) products comprising the contracts for difference (CFDs) sector enabling its international customer base of individual customers to trade CFDs on underlying financial instruments comprising shares, indices, commodities, options, ETFs, foreign exchange, and cryptocurrencies internationally.