IWG (LON:IWG) Shares Pass Below 50-Day Moving Average – Here’s What Happened

IWG plc (LON:IWG) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 183.41 ($2.37) and traded as low as GBX 165.10 ($2.13). IWG shares last traded at GBX 167.60 ($2.16), with a volume of 104,938,844 shares trading hands.

IWG Stock Performance

The company has a quick ratio of 0.45, a current ratio of 0.41 and a debt-to-equity ratio of 12,629.31. The firm has a 50 day moving average of GBX 183.41 and a 200-day moving average of GBX 172.05. The company has a market cap of £1.68 billion, a P/E ratio of -12.46, a PEG ratio of -5.59 and a beta of 2.10.

IWG Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, May 1st. This represents a dividend yield of 0.39%. This is a positive change from IWG’s previous dividend of $0.00. IWG’s dividend payout ratio (DPR) is currently -7.44%.

IWG declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About IWG

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products.