CAB Payments (LON:CABP) Shares Down 0.4% – Here’s Why

CAB Payments Holdings Limited (LON:CABP) shares dropped 0.4% on Wednesday . The company traded as low as GBX 41.20 ($0.56) and last traded at GBX 41.35 ($0.56). Approximately 284,819 shares changed hands during trading, a decline of 40% from the average daily volume of 475,181 shares. The stock had previously closed at GBX 41.50 ($0.57).

Wall Street Analysts Forecast Growth

CABP has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price target on CAB Payments from GBX 105 ($1.43) to GBX 99 ($1.35) and set a “speculative buy” rating on the stock in a research note on Thursday, March 13th. Shore Capital restated a “house stock” rating on shares of CAB Payments in a report on Wednesday, June 4th.

CAB Payments Stock Performance

The stock has a fifty day simple moving average of GBX 44.05 and a 200-day simple moving average of GBX 52.33. The stock has a market cap of £105.05 million and a P/E ratio of 5.42.

Insider Buying and Selling

In related news, insider Susanne Chishti purchased 57,890 shares of CAB Payments stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of GBX 41 ($0.56) per share, with a total value of £23,734.90 ($32,429.16). 64.28% of the stock is currently owned by corporate insiders.

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.