Frontier Developments (LON:FDEV) Shares Down 9.2% – Here’s Why

Frontier Developments plc (LON:FDEV)’s share price was down 9.2% during mid-day trading on Tuesday . The stock traded as low as GBX 432 and last traded at GBX 432. 247,848 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 200,024 shares. The stock had previously closed at GBX 476.

Analysts Set New Price Targets

FDEV has been the topic of several recent research reports. Berenberg Bank reiterated a “buy” rating and set a GBX 600 target price on shares of Frontier Developments in a research report on Wednesday, June 10th. Shore Capital Group restated a “buy” rating and issued a GBX 650 price target on shares of Frontier Developments in a research report on Wednesday, June 10th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 618.75.

Frontier Developments Price Performance

The firm has a market cap of £148.31 million, a price-to-earnings ratio of 8.57, a P/E/G ratio of 2.11 and a beta of 0.03. The business’s 50-day simple moving average is GBX 392.64 and its two-hundred day simple moving average is GBX 419.98. 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 Activity at Frontier Developments

In other news, insider David John Braben sold 93,070 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of GBX 378, for a total transaction of £351,804.60. Over the last 90 days, insiders have sold 246,570 shares of company stock valued at $92,419,960. Corporate 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.