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IG Group Holdings ( (GB:IGG) ) has provided an update.
IG Group Holdings has completed the sale of Small Exchange Inc to Payward Inc, the parent company of Kraken, for $100 million. This transaction, which includes a partnership with Kraken, enhances IG’s crypto strategy and boosts its regulatory capital by £22.7 million. The sale follows IG’s recent acquisition of Independent Reserve and obtaining a cryptoasset license from the Financial Conduct Authority, positioning the company to expand its crypto offerings in the UK. Additionally, IG’s investment in Zero Hash Holdings LLC highlights its commitment to the crypto and stablecoin sectors.
The most recent analyst rating on (GB:IGG) stock is a Hold with a £1179.00 price target. To see the full list of analyst forecasts on IG Group Holdings stock, see the GB:IGG Stock Forecast page.
Spark’s Take on GB:IGG Stock
According to Spark, TipRanks’ AI Analyst, GB:IGG is a Neutral.
IG Group Holdings’ strong valuation and profitability are offset by technical indicators suggesting lack of momentum and challenges in revenue and cash flow growth. The stock’s undervaluation and attractive dividend yield are significant positives, but potential risks in financial performance and technical analysis temper the overall score.
To see Spark’s full report on GB:IGG stock, click here.
More about IG Group Holdings
IG Group Holdings plc is a UK-based FTSE 250 company that provides online trading platforms and educational resources, offering access to approximately 19,000 financial markets worldwide.
Average Trading Volume: 1,203,159
Technical Sentiment Signal: Strong Buy
Current Market Cap: £3.73B
For detailed information about IGG stock, go to TipRanks’ Stock Analysis page.