Palace Capital (LON:PCA) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Palace Capital Plc (LON:PCA) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 188.56 and traded as low as GBX 180.50. Palace Capital shares last traded at GBX 183.60, with a volume of 21,517 shares changing hands.

Palace Capital Trading Up 2.4%

The stock’s 50-day simple moving average is GBX 169.05 and its 200-day simple moving average is GBX 188.37. The stock has a market cap of £36.60 million, a price-to-earnings ratio of -7.29, a price-to-earnings-growth ratio of 3.37 and a beta of 0.14.

Palace Capital (LON:PCA) last announced its earnings results on Thursday, June 11th. The company reported GBX (0.30) EPS for the quarter. Palace Capital had a negative return on equity of 11.17% and a negative net margin of 67.58%.The business had revenue of GBX 355 million for the quarter. On average, equities research analysts forecast that Palace Capital Plc will post 14.477562 earnings per share for the current year.

Palace Capital announced that its Board of Directors has initiated a share buyback program on Friday, April 17th that authorizes the company to buyback 400,000,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

About Palace Capital

Property investment company that has a diversified portfolio of UK regional commercial real estate in carefully selected locations outside of London