Berenberg Bank Reaffirms “Buy” Rating for Conduit (LON:CRE)

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by equities researchers at Berenberg Bank in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a GBX 700 ($9.05) price target on the stock. Berenberg Bank’s price target suggests a potential upside of 102.90% from the stock’s current price.

Conduit Price Performance

Shares of CRE opened at GBX 345 ($4.46) on Monday. The stock has a market capitalization of £693.61 million, a PE ratio of 3.25 and a beta of 0.52. The business’s fifty day moving average price is GBX 406.86 and its 200 day moving average price is GBX 466.19. Conduit has a 12-month low of GBX 316 ($4.09) and a 12-month high of GBX 549.74 ($7.11).

Insider Buying and Selling

In related news, insider Neil David Eckert bought 31,916 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of GBX 364 ($4.71) per share, for a total transaction of £116,174.24 ($150,192.94). Also, insider Trevor Carvey purchased 70,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were purchased at an average price of GBX 340 ($4.40) per share, with a total value of £238,000 ($307,692.31). Insiders have acquired a total of 111,916 shares of company stock worth $39,257,424 over the last quarter. 6.19% of the stock is owned by company insiders.

Conduit Company Profile

Conduit Re is a pure play global reinsurance business based in Bermuda. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.