Midwich Group plc (LON:MIDW – Get Free Report) shares traded down 12.5% 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 traded hands during 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).
Wall Street Analyst Weigh In
Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 620 ($8.05) target price on shares of Midwich Group in a research note on Tuesday, September 3rd.
View Our Latest Stock Analysis on Midwich Group
Midwich Group Price Performance
Midwich Group Cuts Dividend
The firm also recently disclosed a dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 12th were paid a dividend of GBX 5.50 ($0.07) per share. This represents a 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 Buying and Selling
In other Midwich Group news, insider Stephen Fenby acquired 150,000 shares of the company’s stock in a transaction that occurred 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). 26.21% of the stock is currently owned by insiders.
Midwich Group Company Profile
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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