Midwich Group plc (LON:MIDW – Get Free Report)’s stock price traded down 12.5% during trading on Monday . The company traded as low as GBX 265.90 ($3.45) and last traded at GBX 280 ($3.64). 2,876,841 shares were traded during mid-day trading, an increase of 808% from the average session volume of 316,928 shares. The stock had previously closed at GBX 320.03 ($4.16).
Analyst Ratings Changes
Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 620 ($8.05) target price on shares of Midwich Group in a research report on Tuesday, September 3rd.
Check Out Our Latest Analysis on Midwich Group
Midwich Group Stock Performance
Midwich Group Cuts Dividend
The company also recently declared a dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 12th were issued a GBX 5.50 ($0.07) dividend. This represents a yield of 1.7%. The ex-dividend date was Thursday, September 12th. Midwich Group’s dividend payout ratio (DPR) is presently 7,727.27%.
Insiders Place Their Bets
In other news, insider Stephen Fenby purchased 150,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were acquired at an average price of GBX 273 ($3.54) per share, with a total value of £409,500 ($531,680.08). 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.
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