Bloomsbury Publishing (LON:BMY) Share Price Passes Above 200-Day Moving Average – Here’s Why

Bloomsbury Publishing Plc (LON:BMY) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 678.95 ($8.50) and traded as high as GBX 682 ($8.53). Bloomsbury Publishing shares last traded at GBX 675.01 ($8.45), with a volume of 16,335 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank began coverage on shares of Bloomsbury Publishing in a report on Wednesday, November 6th. They set a “buy” rating and a GBX 825 ($10.32) price objective on the stock.

Bloomsbury Publishing Stock Performance

The company’s fifty day moving average is GBX 681.03 and its 200 day moving average is GBX 679.41. The company has a current ratio of 1.67, a quick ratio of 1.04 and a debt-to-equity ratio of 4.40. The company has a market capitalization of £547.28 million, a P/E ratio of 1,723.08 and a beta of 0.66.

Bloomsbury Publishing Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, October 31st were given a GBX 3.89 ($0.05) dividend. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, October 31st. Bloomsbury Publishing’s dividend payout ratio (DPR) is presently 3,846.15%.

Insider Activity at Bloomsbury Publishing

In other news, insider Leslie-Ann Reed purchased 12,139 shares of Bloomsbury Publishing stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of GBX 659 ($8.25) per share, for a total transaction of £79,996.01 ($100,095.11). 8.26% of the stock is currently owned by corporate insiders.

About Bloomsbury Publishing

Bloomsbury Publishing Plc publishes academic, educational, and general fiction and non-fiction books for children, teachers, students, researchers, and professionals worldwide. The company offers books and digital resources to international research community and higher education students; online law, accounting, and tax services for the United Kingdom and professionals; and publishing services for corporations and institutions.