Midwich Group (LON:MIDW) Stock Price Up 1.1% – Here’s What Happened

Shares of Midwich Group plc (LON:MIDW) were up 1.1% during mid-day trading on Wednesday . The company traded as high as GBX 289 ($3.66) and last traded at GBX 285 ($3.61). Approximately 383,697 shares traded 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 ($3.57).

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 620 ($7.85) price target on shares of Midwich Group in a research note on Tuesday, September 3rd.

Midwich Group Trading Up 1.1 %

The stock’s fifty day simple moving average is GBX 304.11 and its two-hundred day simple moving average is GBX 345.28. The firm has a market cap of £291.58 million, a PE ratio of 1,295.45 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 1.44 and a debt-to-equity ratio of 96.77.

Midwich Group Cuts Dividend

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

Insiders Place Their Bets

In related news, insider Stephen Fenby acquired 150,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was acquired at an average cost of GBX 273 ($3.45) per share, with a total value of £409,500 ($518,157.66). 26.21% of the stock is currently owned by 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.