Frontier Developments (LON:FDEV) Trading 9% Higher – Still a Buy?

Frontier Developments plc (LON:FDEV)’s stock price was up 9% during trading on Thursday . The stock traded as high as GBX 495 and last traded at GBX 486.50. Approximately 232,458 shares were traded during trading, an increase of 28% from the average daily volume of 181,173 shares. The stock had previously closed at GBX 446.50.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FDEV. Berenberg Bank restated a “buy” rating and issued a GBX 600 price objective on shares of Frontier Developments in a report on Wednesday. Shore Capital Group reissued a “buy” rating and set a GBX 650 price target on shares of Frontier Developments in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 618.75.

Frontier Developments Price Performance

The firm has a market capitalization of £167.93 million, a price-to-earnings ratio of 9.71, a P/E/G ratio of 2.11 and a beta of 0.03. The company’s 50 day moving average is GBX 386.42 and its 200-day moving average is GBX 422.30. The company has a current ratio of 2.83, a quick ratio of 2.61 and a debt-to-equity ratio of 19.71.

Insider Transactions at Frontier Developments

In other news, insider David John Braben sold 93,070 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of GBX 378, for a total value of £351,804.60. Insiders sold a total of 282,070 shares of company stock valued at $105,394,460 in the last 90 days. 37.96% of the stock is owned by corporate insiders.

Frontier Developments Company Profile

Frontier is a leading independent developer and publisher of video games for PC and console, creating immersive and fun gameplay, with unparalleled artistic quality.

At Frontier, we specialise in creating endless possibilities in playful, fun and creative worlds. From some of the world’s biggest licensed entertainment and sporting franchises, to intricately crafted worlds where players can explore and make their mark, our games are all underpinned by our unwavering passion for creating compelling and innovative experiences that continue to inspire and delight our players.

We have created games that have defined genres, been critically acclaimed, and reached many millions of players.