Shares of Redde PLC (LON:REDD) shot up 6.6% on Wednesday following insider buying activity. The company traded as high as GBX 97.52 ($1.27) and last traded at GBX 97.13 ($1.27). 720,620 shares traded hands during trading, a decline of 9% from the average session volume of 794,132 shares. The stock had previously closed at GBX 91.10 ($1.19).

Specifically, insider Martin Ward bought 23,854 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of GBX 105 ($1.37) per share, for a total transaction of £25,046.70 ($32,727.95). Also, insider Avril Palmer-Baunack bought 56,497 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was purchased at an average price of GBX 88 ($1.15) per share, for a total transaction of £49,717.36 ($64,964.54).

Separately, JPMorgan Chase & Co. downgraded shares of Redde to a “neutral” rating and dropped their target price for the stock from GBX 189 ($2.47) to GBX 111 ($1.45) in a report on Monday.

The company has a debt-to-equity ratio of 32.91, a quick ratio of 1.00 and a current ratio of 1.09. The firm has a market capitalization of $328.75 million and a PE ratio of 9.40.

The business also recently disclosed a dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th will be issued a dividend of GBX 5.50 ($0.07) per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a dividend yield of 3.46%. Redde’s payout ratio is 1.05%.

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Redde Company Profile (LON:REDD)

Redde plc provides a package of motor claims accident management, incident management, fleet management, and legal services in the United Kingdom. The company offers vehicle replacement, repair management, claims-handling assistance, and legal and other bespoke services. It also provides personal injury services, including motor accident, criminal injury, and medical negligence, as well as specialist serious injury services.

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