Compagnie Financiere Richemont (OTCMKTS:CFRUY) Shares Gap Down – Here’s What Happened

Compagnie Financiere Richemont AG (OTCMKTS:CFRUY)’s share price gapped down before the market opened on Friday. The stock had previously closed at $21.00, but opened at $19.99. Compagnie Financiere Richemont shares last traded at $20.15, with a volume of 23,946 shares changing hands.

Analyst Upgrades and Downgrades

CFRUY has been the topic of a number of research reports. Royal Bank Of Canada cut shares of Compagnie Financiere Richemont from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 22nd. TD Cowen assumed coverage on shares of Compagnie Financiere Richemont in a research note on Friday, October 30th. They issued a “strong-buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy”.

Compagnie Financiere Richemont Trading Down 3.5%

The company has a debt-to-equity ratio of 0.19, a current ratio of 3.10 and a quick ratio of 2.06. The business has a 50-day moving average price of $20.81 and a 200 day moving average price of $20.91.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Compagnie Financiere Richemont stock. Azimuth Capital Investment Management LLC bought a new position in Compagnie Financiere Richemont AG (OTCMKTS:CFRUY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 501,500 shares of the company’s stock, valued at approximately $11,598,000.

About Compagnie Financiere Richemont

Compagnie Financière Richemont is a Switzerland-based luxury goods group whose businesses design, manufacture and sell jewelry, watches, fashion and accessories. Its portfolio includes jewelry houses such as Cartier, Van Cleef & Arpels and Buccellati, as well as specialist watchmakers including IWC Schaffhausen, Jaeger-LeCoultre, Panerai and Vacheron Constantin. The group also includes fashion and accessories Maisons such as Alaïa and Chloé. Its products are sold internationally through boutiques, e-commerce and wholesale partners, serving customers across major luxury markets worldwide.