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 the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of GBX 105 ($1.31) per share, for a total transaction of £15,750,000 ($19,707,207.21).

Shravin Bharti Mittal also recently made the following trade(s):

• On Friday, November 22nd, Shravin Bharti Mittal acquired 688,175 shares of Airtel Africa stock. The shares were bought at an average price of GBX 98 ($1.23) per share, with a total value of £674,411.50 ($843,858.23).
• On Wednesday, November 20th, Shravin Bharti Mittal bought 804,887 shares of Airtel Africa stock. The shares were bought at an average cost of GBX 96 ($1.20) per share, for a total transaction of £772,691.52 ($966,831.23).

Airtel Africa Stock Performance

Shares of AAF stock traded up GBX 2.90 ($0.04) during trading on Thursday, reaching GBX 116.50 ($1.46). The company had a trading volume of 5,751,370 shares, compared to its average volume of 3,467,376. The firm’s 50 day simple moving average is GBX 105 and its two-hundred day simple moving average is GBX 111.68. The company has a debt-to-equity ratio of 180.85, a current ratio of 0.52 and a quick ratio of 0.26. Airtel Africa Plc has a one year low of GBX 90.20 ($1.13) and a one year high of GBX 132.50 ($1.66). The company has a market capitalization of £4.30 billion, a PE ratio of -3,883.33, a PEG ratio of 0.58 and a beta of 1.04.

Airtel Africa Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 7th were given 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 (DPR) is currently -16,666.67%.

Analysts Set New Price Targets

AAF has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Airtel Africa from GBX 121 ($1.51) to GBX 128 ($1.60) and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Airtel Africa from GBX 150 ($1.88) to GBX 155 ($1.94) and gave the company a “buy” rating in a research note on Monday, September 23rd.

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.