Insider Buying: Stingray Group (TSE:RAY.A) Senior Officer Buys 100,000 Shares of Stock

Stingray Group (TSE:RAY.AGet Free Report) Senior Officer David Purdy bought 100,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were acquired at an average cost of C$7.15 per share, with a total value of C$715,000.00.

Stingray Group Stock Up 1.0 %

TSE RAY.A traded up C$0.07 during trading hours on Friday, hitting C$7.32. 29,264 shares of the company were exchanged, compared to its average volume of 39,450. The company has a 50 day moving average of C$7.49 and a two-hundred day moving average of C$7.01. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 134.69. Stingray Group has a 52-week low of C$4.21 and a 52-week high of C$8.10. The firm has a market cap of C$369.59 million, a price-to-earnings ratio of 13.68, a PEG ratio of 1.13 and a beta of 1.11.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RAY.A shares. Royal Bank of Canada lifted their price objective on Stingray Group from C$9.00 to C$10.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. CIBC lifted their price objective on Stingray Group from C$10.00 to C$10.50 and gave the company an “outperform” rating in a research note on Thursday, June 6th.

View Our Latest Analysis on Stingray Group

Stingray Group Company Profile

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Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.

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