Inmarsat Plc (LON:ISAT) reached a new 52-week low on Tuesday after HSBC Holdings plc lowered their price target on the stock from GBX 820 to GBX 720. HSBC Holdings plc currently has a hold rating on the stock. Inmarsat Plc traded as low as GBX 488.10 ($6.42) and last traded at GBX 499.60 ($6.57), with a volume of 5320795 shares. The stock had previously closed at GBX 516 ($6.79).
Other equities research analysts also recently issued research reports about the stock. Jefferies Group LLC reduced their target price on shares of Inmarsat Plc from GBX 1,245 ($16.38) to GBX 1,100 ($14.47) and set a “buy” rating on the stock in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reduced their target price on shares of Inmarsat Plc from GBX 960 ($12.63) to GBX 920 ($12.10) and set a “buy” rating on the stock in a research note on Friday, July 14th. Deutsche Bank AG reduced their target price on shares of Inmarsat Plc from GBX 1,020 ($13.42) to GBX 1,010 ($13.28) and set a “buy” rating on the stock in a research note on Friday, August 11th. Morgan Stanley reduced their target price on shares of Inmarsat Plc from GBX 760 ($10.00) to GBX 620 ($8.15) and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Berenberg Bank upgraded shares of Inmarsat Plc to a “hold” rating and reduced their target price for the company from GBX 680 ($8.94) to GBX 640 ($8.42) in a research note on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of GBX 772.78 ($10.16).
In other Inmarsat Plc news, insider Simon Bax purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was acquired at an average cost of GBX 646 ($8.50) per share, with a total value of £16,150 ($21,241.62). Also, insider Rupert Pearce purchased 19,260 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average cost of GBX 519 ($6.83) per share, with a total value of £99,959.40 ($131,473.63).
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About Inmarsat Plc
Inmarsat plc is a United Kingdom-based provider of global mobile satellite communications services. The Company’s segments include Maritime, Government, Enterprise, Aviation and Central Services. The Maritime segment focuses on commercial maritime services across the world. The Maritime segment includes the provision of broadband data and safety communications for all vessel sizes.
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