On the Beach Group (LON:OTB) Reaches New 52-Week High After Dividend Announcement

Shares of On the Beach Group plc (LON:OTB) hit a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as GBX 236 ($3.01) and last traded at GBX 234 ($2.99), with a volume of 4158338 shares trading hands. The stock had previously closed at GBX 208 ($2.65).

The newly announced dividend which will be paid on Tuesday, March 4th. Investors of record on Thursday, January 30th will be issued a dividend of GBX 2.10 ($0.03) per share. This represents a yield of 1.02%. This is a boost from On the Beach Group’s previous dividend of $0.90. The ex-dividend date of this dividend is Thursday, January 30th. On the Beach Group’s dividend payout ratio (DPR) is currently 1,111.11%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OTB. Canaccord Genuity Group lowered their price objective on shares of On the Beach Group from GBX 220 ($2.81) to GBX 187 ($2.39) and set a “buy” rating for the company in a research report on Wednesday, October 16th. Shore Capital restated a “buy” rating on shares of On the Beach Group in a research report on Wednesday. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 180 ($2.30) price objective on shares of On the Beach Group in a research report on Tuesday, October 15th.

On the Beach Group Trading Up 12.5 %

The company has a market capitalization of £390.76 million, a P/E ratio of 2,600.00, a price-to-earnings-growth ratio of 0.71 and a beta of 2.42. The business has a fifty day moving average price of GBX 156.09 and a 200 day moving average price of GBX 148.67. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 34.49.

Insider Transactions at On the Beach Group

In other news, insider Shaun Morton purchased 12,013 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average cost of GBX 209 ($2.67) per share, with a total value of £25,107.17 ($32,036.71). 10.69% of the stock is currently owned by insiders.

About On the Beach Group

On the Beach Group plc operates as an online retailer of short haul beach holidays under the On the Beach brand name in the United Kingdom. It operates through three segments: OTB, CCH, and CPH. The company provides its services through onthebeach.co.uk, sunshine.co.uk, and onthebeachtransfers.co.uk websites in the United Kingdom.