Stingray Group (TSE:RAY.A) Price Target Raised to C$11.50

Stingray Group (TSE:RAY.A) had its price target boosted by CIBC from C$11.00 to C$11.50 in a research report report published on Friday morning,BayStreet.CA reports.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada upped their target price on shares of Stingray Group from C$10.00 to C$11.00 in a research note on Thursday, November 7th. BMO Capital Markets boosted their target price on Stingray Group from C$10.50 to C$11.00 and gave the stock a “market perform” rating in a report on Friday.

Stingray Group Trading Down 2.6 %

Shares of TSE RAY.A opened at C$8.55 on Friday. The stock has a market cap of C$454.35 million, a price-to-earnings ratio of -29.48, a P/E/G ratio of 1.13 and a beta of 1.07. Stingray Group has a twelve month low of C$6.76 and a twelve month high of C$9.05. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The company’s fifty day moving average is C$7.73 and its 200-day moving average is C$7.69.

Insider Buying and Selling at Stingray Group

In other news, Senior Officer Mario Dubois sold 4,200 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$8.30, for a total value of C$34,860.00. Also, Senior Officer Ratha Khuong sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$8.11, for a total transaction of C$40,569.00. Over the last three months, insiders have sold 22,800 shares of company stock valued at $180,088. 25.46% of the stock is currently 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.