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

Midwich Group plc (LON:MIDW) shares shot up 1.1% on Wednesday . The stock traded as high as GBX 289 ($3.66) and last traded at GBX 285 ($3.61). 383,697 shares were traded during trading, an increase of 19% from the average session volume of 323,485 shares. The stock had previously closed at GBX 282 ($3.57).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 620 ($7.85) price target on shares of Midwich Group in a research note on Tuesday, September 3rd.

Midwich Group Price Performance

The firm has a 50 day moving average price of GBX 304.11 and a two-hundred day moving average price of GBX 345.28. The company has a market cap of £291.58 million, a P/E ratio of 1,295.45 and a beta of 0.66. The company has a debt-to-equity ratio of 96.77, a quick ratio of 0.78 and a current ratio of 1.44.

Midwich Group Cuts Dividend

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

Insider Activity at Midwich Group

In other news, insider Stephen Fenby purchased 150,000 shares of the stock in a transaction dated Monday, October 21st. The shares were purchased at an average cost of GBX 273 ($3.45) per share, with a total value of £409,500 ($518,157.66). 26.21% of the stock is currently owned by corporate insiders.

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.