Insider Buying: Airtel Africa Plc (LON:AAF) Insider Acquires 15,000,000 Shares of Stock

Airtel Africa Plc (LON:AAF) insider Shravin Bharti Mittal acquired 15,000,000 shares of Airtel Africa stock in a transaction on Friday, December 27th. The shares were bought at an average price of GBX 105 ($1.30) per share, with a total value of £15,750,000 ($19,494,987.00).

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

• On Friday, November 22nd, Shravin Bharti Mittal bought 688,175 shares of Airtel Africa stock. The shares were acquired at an average cost of GBX 98 ($1.21) per share, with a total value of £674,411.50 ($834,771.01).
• On Wednesday, November 20th, Shravin Bharti Mittal acquired 804,887 shares of Airtel Africa stock. The stock was purchased at an average price of GBX 96 ($1.19) per share, for a total transaction of £772,691.52 ($956,419.75).

Airtel Africa Stock Up 3.1 %

AAF opened at GBX 117.09 ($1.45) on Friday. Airtel Africa Plc has a one year low of GBX 90.20 ($1.12) and a one year high of GBX 132.50 ($1.64). The company has a debt-to-equity ratio of 180.85, a quick ratio of 0.26 and a current ratio of 0.52. The stock has a market capitalization of £4.32 billion, a P/E ratio of -3,903.03, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The business’s 50-day simple moving average is GBX 105 and its 200-day simple moving average is GBX 111.68.

Airtel Africa Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 7th were issued a $0.03 dividend. This represents a yield of 1.74%. The ex-dividend date was Thursday, November 7th. Airtel Africa’s dividend payout ratio is presently -16,666.67%.

Analysts Set New Price Targets

AAF has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Airtel Africa from GBX 150 ($1.86) to GBX 155 ($1.92) and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price target on shares of Airtel Africa from GBX 121 ($1.50) to GBX 128 ($1.58) and gave the company a “buy” rating in a research report on Wednesday, December 11th.

About Airtel Africa

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.