Shravin Bharti Mittal Acquires 15,000,000 Shares of Airtel Africa Plc (LON:AAF) Stock

Airtel Africa Plc (LON:AAF) insider Shravin Bharti Mittal bought 15,000,000 shares of Airtel Africa stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of GBX 105 ($1.30) per share, with a total value of £15,750,000 ($19,565,217.39).

Shravin Bharti Mittal also recently made the following trade(s):

• On Friday, November 22nd, Shravin Bharti Mittal acquired 688,175 shares of Airtel Africa stock. The shares were acquired at an average cost of GBX 98 ($1.22) per share, with a total value of £674,411.50 ($837,778.26).
• On Wednesday, November 20th, Shravin Bharti Mittal purchased 804,887 shares of Airtel Africa stock. The shares were bought at an average cost of GBX 96 ($1.19) per share, with a total value of £772,691.52 ($959,865.24).

Airtel Africa Price Performance

LON:AAF opened at GBX 118.23 ($1.47) on Friday. The business’s 50-day simple moving average is GBX 105.10 and its two-hundred day simple moving average is GBX 111.68. Airtel Africa Plc has a 52 week low of GBX 90.20 ($1.12) and a 52 week high of GBX 132.50 ($1.65). The stock has a market cap of £4.36 billion, a PE ratio of -3,941.07, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a quick ratio of 0.26, a current ratio of 0.52 and a debt-to-equity ratio of 180.85.

Airtel Africa Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 7th were paid a dividend of $0.03 per share. This represents a yield of 1.74%. The ex-dividend date was Thursday, November 7th. Airtel Africa’s dividend payout ratio (DPR) is presently -16,666.67%.

Analysts Set New Price Targets

AAF has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Airtel Africa from GBX 150 ($1.86) to GBX 155 ($1.93) and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on shares of Airtel Africa from GBX 121 ($1.50) to GBX 128 ($1.59) and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.