GB Group (GBG) Trading 5% Higher Following Analyst Upgrade
Shares of GB Group plc (LON:GBG) traded up 5% during trading on Thursday after Peel Hunt raised their price target on the stock from GBX 600 to GBX 626. Peel Hunt currently has a buy rating on the stock. GB Group traded as high as GBX 461 ($6.02) and last traded at GBX 451.31 ($5.90). 255,250 shares traded hands during mid-day trading, an increase of 31% from the average session volume of 194,592 shares. The stock had previously closed at GBX 430 ($5.62).
Several other analysts have also recently commented on the company. Canaccord Genuity cut GB Group to a “hold” rating and lifted their price target for the company from GBX 430 ($5.62) to GBX 485 ($6.34) in a report on Friday, February 1st. Berenberg Bank restated a “buy” rating and issued a GBX 650 ($8.49) price target on shares of GB Group in a report on Tuesday, November 27th.
In other news, insider David A. Rasche bought 48,780 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was acquired at an average price of GBX 410 ($5.36) per share, for a total transaction of £199,998 ($261,332.81).
GB Group Company Profile (LON:GBG)
GB Group plc, together with its subsidiaries, provides identity data intelligence services in the United Kingdom, the United States, Australia, and internationally. It operates through two segments, Identity Proofing and Identity Solutions. The company's solutions include ID verification, which helps in verifying consumers' identities remotely, without the physical presentation of documentation, in order to combat ID fraud, money laundering, and restricting access to under-age content, purchases, and gambling; and ID employ and comply that provides background checks through online verification and authentication of individuals.
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