CAB Payments (LON:CABP) Shares Down 7% – Here’s What Happened

CAB Payments Holdings Limited (LON:CABP)’s stock price was down 7% on Friday . The company traded as low as GBX 47.30 ($0.63) and last traded at GBX 47.45 ($0.63). Approximately 562,683 shares traded hands during trading, an increase of 21% from the average daily volume of 465,729 shares. The stock had previously closed at GBX 51 ($0.68).

Analyst Ratings Changes

A number of equities analysts have weighed in on CABP shares. Canaccord Genuity Group reduced their price target on CAB Payments from GBX 105 ($1.39) to GBX 99 ($1.32) and set a “speculative buy” rating for the company in a research report on Thursday, March 13th. Shore Capital reaffirmed a “house stock” rating on shares of CAB Payments in a research report on Tuesday, April 15th.

CAB Payments Price Performance

The firm’s 50 day moving average is GBX 45.94 and its two-hundred day moving average is GBX 59.21. The firm has a market capitalization of £119.27 million and a P/E ratio of 6.15.

CAB Payments (LON:CABP) last released its earnings results on Friday, March 14th. The company reported GBX 6 ($0.08) earnings per share for the quarter. CAB Payments had a net margin of 12.21% and a return on equity of 14.16%. Analysts anticipate that CAB Payments Holdings Limited will post 14.556213 EPS for the current fiscal year.

Insider Buying and Selling at CAB Payments

In other news, insider James Hopkinson bought 214,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of GBX 48 ($0.64) per share, with a total value of £102,720 ($136,450.58). Also, insider Susanne Chishti bought 57,890 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were purchased at an average cost of GBX 41 ($0.54) per share, with a total value of £23,734.90 ($31,528.83). Insiders own 64.28% of the company’s stock.

About CAB Payments

CAB Payments Holdings plc and its subsidiaries (CAB Payments) is a market leader in business-to-business cross-border payments and foreign exchange, specialising in hard-to-reach markets. CAB Payments uses its strength of network, technology, and expertise to seamlessly move money where it’s needed and is the holding company for Crown Agents Bank, a UK-regulated bank.