Polar Capital (LON:POLR) shares hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 602 ($8.17) and last traded at GBX 588 ($7.98), with a volume of 96101 shares trading hands. The stock had previously closed at GBX 580 ($7.87).
A number of brokerages have commented on POLR. Numis Securities upgraded Polar Capital to a “buy” rating and increased their price objective for the company from GBX 585 ($7.94) to GBX 635 ($8.61) in a research report on Thursday, May 3rd. Peel Hunt restated a “buy” rating and issued a GBX 560 ($7.60) price target on shares of Polar Capital in a research report on Thursday, April 26th. Shore Capital raised their price target on Polar Capital from GBX 500 ($6.78) to GBX 534 ($7.24) and gave the stock a “buy” rating in a research report on Thursday, April 26th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 590 ($8.00) price target on shares of Polar Capital in a research report on Monday, March 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of GBX 564 ($7.65).
In related news, insider John Mansell purchased 20,044 shares of Polar Capital stock in a transaction dated Wednesday, May 9th. The shares were acquired at an average cost of GBX 539 ($7.31) per share, for a total transaction of £108,037.16 ($146,550.68).
About Polar Capital
Polar Capital Holdings plc is a publicly owned investment manager. The firm provides its services to professional and institutional investors. It launches and manages equity and balanced mutual funds. The firm also launches and manages hedge funds for its clients. Polar Capital Holdings plc was founded in December 2000 and is based in London, United Kingdom with an additional office in Tokyo, Japan.
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