Frontier Developments (LON:FDEV) Trading 9% Higher – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FDEV shares. Berenberg Bank reissued a “buy” rating and issued a GBX 600 price target on shares of Frontier Developments in a report on Wednesday. Shore Capital Group reissued a “buy” rating and issued a GBX 650 price target on shares of Frontier Developments in a report on Wednesday. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Frontier Developments currently has a consensus rating of “Buy” and a consensus price target of GBX 618.75.

Frontier Developments Stock Performance

The firm has a market cap of £168.98 million, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 2.11 and a beta of 0.03. The company has a current ratio of 2.83, a quick ratio of 2.61 and a debt-to-equity ratio of 19.71. The business’s fifty day simple moving average is GBX 381.04 and its 200-day simple moving average is GBX 422.08.

Insider Buying and Selling at Frontier Developments

In other news, insider David John Braben sold 93,070 shares of Frontier Developments stock in a transaction dated 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 288,570 shares of company stock worth $107,792,960. Insiders own 37.96% of the company’s stock.

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.