Frontier Developments (LON:FDEV) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Frontier Developments plc (LON:FDEV) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 412.81 and traded as low as GBX 409.50. Frontier Developments shares last traded at GBX 444.50, with a volume of 50,230 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FDEV shares. Shore Capital Group reaffirmed a “buy” rating and set a GBX 650 price target on shares of Frontier Developments in a research note on Wednesday, June 10th. Berenberg Bank reiterated a “buy” rating and set a GBX 600 price objective on shares of Frontier Developments in a research report on Wednesday, June 10th. Four 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 an average price target of GBX 618.75.

Frontier Developments Stock Performance

The company has a market cap of £154.39 million, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03. The business has a 50 day moving average price of GBX 400.35 and a two-hundred day moving average price of GBX 412.81. The company has a debt-to-equity ratio of 19.71, a quick ratio of 2.61 and a current ratio of 2.83.

Insider Buying and Selling

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 shares were sold at an average price of GBX 378, for a total value of £351,804.60. Also, insider Alex Bevis sold 5,084 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of GBX 404, for a total transaction of £20,539.36. Insiders sold a total of 219,654 shares of company stock worth $83,175,896 over the last ninety days. Insiders own 37.96% of the company’s stock.

About Frontier Developments

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.