Midwich Group (LON:MIDW) Trading Up 1.1% – Here’s Why

Midwich Group plc (LON:MIDW) shares were up 1.1% during mid-day trading on Wednesday . The stock traded as high as GBX 289 ($3.64) and last traded at GBX 285 ($3.59). Approximately 383,697 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 323,485 shares. The stock had previously closed at GBX 282 ($3.55).

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 620 ($7.81) price target on shares of Midwich Group in a research report on Tuesday, September 3rd.

Midwich Group Trading Up 0.4 %

The company’s 50 day simple moving average is GBX 303.47 and its two-hundred day simple moving average is GBX 344.27. The company has a quick ratio of 0.78, a current ratio of 1.44 and a debt-to-equity ratio of 96.77. The company has a market capitalization of £285.44 million, a price-to-earnings ratio of 1,266.36 and a beta of 0.66.

Midwich Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 12th were paid a dividend of GBX 5.50 ($0.07) per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a yield of 1.7%. Midwich Group’s dividend payout ratio (DPR) is 7,727.27%.

Insider Activity at Midwich Group

In related news, insider Stephen Fenby purchased 150,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was acquired at an average price of GBX 273 ($3.44) per share, with a total value of £409,500 ($515,548.28). 26.21% of the stock is currently owned by corporate insiders.

Midwich Group Company Profile

Midwich Group plc, together with its subsidiaries, distributes audio visual (AV) solutions to trade customers in the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, the Asia Pacific, and North America. The company distributes various AV categories, such as displays, projectors, technical and professional video products, audio and digital signage products, and broadcast products, as well as lighting and unified communications products.