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ICG Enterprise Trust PLC GBP ( (GB:ICGT) ) just unveiled an update.
ICG Enterprise Trust PLC, a company involved in investment and asset management, announced the repurchase of 10,000 of its own shares to be held as treasury shares at an average price of 1532 pence per share. This buyback is part of the authority granted by shareholders to repurchase up to 14.99% of its ordinary shares, with the actual number of shares repurchased depending on market conditions. The company intends to hold the repurchased shares in treasury, and this move is expected to impact the company’s share capital structure by reducing the number of shares in circulation, potentially enhancing shareholder value.
The most recent analyst rating on (GB:ICGT) stock is a Buy with a £17.90 price target. To see the full list of analyst forecasts on ICG Enterprise Trust PLC GBP stock, see the GB:ICGT Stock Forecast page.
Spark’s Take on GB:ICGT Stock
According to Spark, TipRanks’ AI Analyst, GB:ICGT is a Neutral.
ICG Enterprise Trust PLC’s overall score is driven by a mixed financial performance, with strong profitability but concerns over revenue and cash flow. Technical indicators suggest moderate upward momentum, while the valuation indicates potential overvaluation. Positive corporate events, such as share buybacks and NAV growth, bolster the outlook and enhance shareholder value.
To see Spark’s full report on GB:ICGT stock, click here.
More about ICG Enterprise Trust PLC GBP
Average Trading Volume: 65,608
Technical Sentiment Signal: Buy
Current Market Cap: £967.1M
See more data about ICGT stock on TipRanks’ Stock Analysis page.