Polar Capital (LON:POLR) Receives Buy Rating from Shore Capital

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Shore Capital reiterated their buy rating on shares of Polar Capital (LON:POLR) in a report released on Thursday, ThisIsMoney.Co.Uk reports.

Several other research firms have also recently weighed in on POLR. Peel Hunt boosted their price target on Blancco Technology Group from GBX 154 ($2.01) to GBX 173 ($2.26) and gave the stock a buy rating in a research note on Thursday. Numis Securities restated an add rating and issued a GBX 1,050 ($13.72) price target on shares of in a research note on Wednesday, June 5th.

Shares of LON:POLR opened at GBX 580 ($7.58) on Thursday. The company’s fifty day moving average is GBX 575.84. The stock has a market capitalization of $559.50 million and a PE ratio of 10.82. Polar Capital has a 12-month low of GBX 447 ($5.84) and a 12-month high of GBX 718 ($9.38).

The firm also recently declared a dividend, which will be paid on Friday, July 26th. Stockholders of record on Thursday, July 4th will be paid a GBX 25 ($0.33) dividend. The ex-dividend date is Thursday, July 4th. This represents a dividend yield of 4.17%. This is a boost from Polar Capital’s previous dividend of $8.00. Polar Capital’s payout ratio is currently 0.62%.

In other Polar Capital news, insider Quintin Price purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was purchased at an average price of GBX 600 ($7.84) per share, for a total transaction of £60,000 ($78,400.63).

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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