Royal Bank of Canada Issues Positive Forecast for Stingray Group (TSE:RAY.A) Stock Price

Stingray Group (TSE:RAY.AFree Report) had its target price raised by Royal Bank of Canada from C$10.00 to C$11.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports.

A number of other research firms have also weighed in on RAY.A. BMO Capital Markets boosted their target price on Stingray Group from C$9.50 to C$10.50 in a report on Thursday, August 8th. National Bankshares boosted their target price on Stingray Group from C$9.50 to C$10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.

Check Out Our Latest Stock Report on RAY.A

Stingray Group Stock Up 1.8 %

Shares of TSE:RAY.A traded up C$0.14 during trading on Thursday, hitting C$8.04. 99,005 shares of the company’s stock traded hands, compared to its average volume of 34,923. Stingray Group has a 52 week low of C$4.88 and a 52 week high of C$8.54. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The company has a market cap of C$427.25 million, a price-to-earnings ratio of -27.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. The company has a 50-day moving average price of C$7.35 and a 200-day moving average price of C$7.54.

Insider Transactions at Stingray Group

In related news, Senior Officer Mario Dubois sold 7,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$8.00, for a total transaction of C$60,000.00. In the last quarter, insiders sold 18,900 shares of company stock valued at $150,488. Corporate insiders own 25.46% of the company’s stock.

Stingray Group Company Profile

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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.

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