Stingray Group (TSE:RAY.A) Price Target Raised to C$11.00 at CIBC

Stingray Group (TSE:RAY.A) had its target price increased by CIBC from C$10.50 to C$11.00 in a report released on Thursday morning,BayStreet.CA reports.

RAY.A has been the topic of several other research reports. National Bankshares lifted their target price on Stingray Group from C$9.50 to C$10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets lifted their target price on Stingray Group from C$9.50 to C$10.50 in a research report on Thursday, August 8th. Finally, Royal Bank of Canada lifted their target price on Stingray Group from C$10.00 to C$11.00 in a research report on Thursday.

Stingray Group Stock Up 1.8 %

Stingray Group stock traded up C$0.14 during mid-day trading on Thursday, reaching C$8.04. The stock had a trading volume of 99,005 shares, compared to its average volume of 34,923. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. Stingray Group has a fifty-two week low of C$4.88 and a fifty-two week high of C$8.54. The stock’s 50-day simple moving average is C$7.35 and its 200-day simple moving average is C$7.54. The firm has a market capitalization of C$427.25 million, a PE ratio of -27.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07.

Insider Activity at Stingray Group

In related news, Senior Officer Mario Dubois sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$8.00, for a total transaction of C$60,000.00. In the last three months, insiders have sold 18,900 shares of company stock worth $150,488. 25.46% of the stock is owned by company insiders.

About Stingray Group

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.