Shravin Bharti Mittal Buys 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 price of GBX 105 ($1.30) per share, for a total transaction 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 bought 688,175 shares of Airtel Africa stock. The shares were bought 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 acquired 804,887 shares of Airtel Africa stock. The stock was purchased at an average cost of GBX 96 ($1.19) per share, for a total transaction of £772,691.52 ($959,865.24).

Airtel Africa Stock Up 1.0 %

Shares of LON:AAF opened at GBX 118.23 ($1.47) on Friday. The firm has a fifty day moving average price of GBX 105.05 and a 200 day moving average price of GBX 111.69. Airtel Africa Plc has a 1-year low of GBX 90.20 ($1.12) and a 1-year high of GBX 132.50 ($1.65). The company has a debt-to-equity ratio of 180.85, a current ratio of 0.52 and a quick ratio of 0.26. The stock has a market cap of £4.36 billion, a P/E ratio of -3,941.07, a P/E/G ratio of 0.58 and a beta of 1.04.

Airtel Africa Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, December 13th. Shareholders 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 of this dividend was Thursday, November 7th. Airtel Africa’s dividend payout ratio is presently -16,666.67%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAF. Deutsche Bank Aktiengesellschaft raised their target price on Airtel Africa from GBX 150 ($1.86) to GBX 155 ($1.93) and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on Airtel Africa from GBX 121 ($1.50) to GBX 128 ($1.59) and gave the company a “buy” rating in a report on Wednesday, December 11th.

Airtel Africa Company Profile

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers.