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

Shares of Midwich Group plc (LON:MIDW) traded up 1.1% on Wednesday . The stock traded as high as GBX 289 ($3.64) and last traded at GBX 285 ($3.59). 383,697 shares traded hands during trading, an increase of 19% from the average session 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 issued a GBX 620 ($7.81) price target on shares of Midwich Group in a report on Tuesday, September 3rd.

Midwich Group Price Performance

The stock has a market capitalization of £285.44 million, a PE ratio of 1,266.36 and a beta of 0.66. The company has a debt-to-equity ratio of 96.77, a current ratio of 1.44 and a quick ratio of 0.78. The stock’s fifty day moving average is GBX 303.47 and its 200-day moving average is GBX 344.27.

Midwich Group Cuts Dividend

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

Insider Activity

In related news, insider Stephen Fenby acquired 150,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were acquired at an average cost of GBX 273 ($3.44) per share, with a total value of £409,500 ($515,548.28). Insiders own 26.21% of the company’s stock.

About Midwich Group

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.