CMC Markets (LON:CMCX) Trading 28.9% Higher Following Analyst Upgrade

CMC Markets Plc (LON:CMCX) shares were up 28.9% on Friday after Shore Capital upgraded the stock to a buy rating. Shore Capital now has a GBX 330 price target on the stock, up from their previous price target of GBX 280. CMC Markets traded as high as GBX 271.50 and last traded at GBX 267.50. Approximately 12,959,912 shares traded hands during mid-day trading, an increase of 1,846% from the average daily volume of 666,025 shares. The stock had previously closed at GBX 207.50.

Separately, Panmure Gordon boosted their price objective on shares of CMC Markets from GBX 240 to GBX 260 and gave the company a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 295.

Insider Buying and Selling

In other CMC Markets news, insider David Fineberg purchased 134 shares of CMC Markets stock in a transaction dated Monday, October 6th. The stock was acquired at an average price of GBX 225 per share, for a total transaction of £301.50. Company insiders own 64.11% of the company’s stock.

CMC Markets Trading Up 28.9%

The company has a market capitalization of £728.91 million, a PE ratio of 11.84 and a beta of 0.51. The company has a debt-to-equity ratio of 4.19, a current ratio of 2.18 and a quick ratio of 2.47. The company’s fifty day moving average is GBX 219.60 and its 200-day moving average is GBX 236.31.

CMC Markets (LON:CMCX) last posted its earnings results on Thursday, November 20th. The company reported GBX 13.30 earnings per share for the quarter. CMC Markets had a return on equity of 86.11% and a net margin of 95.92%. On average, analysts anticipate that CMC Markets Plc will post 20.9884902 EPS for the current fiscal year.

About CMC Markets

CMC is a leading global provider of online trading and investing, with a comprehensive retail, professional and institutional offering.
The business was started in 1989 with a simple ethos: to make financial markets truly accessible for investors. We are proud of our strong heritage and our successful 30-year track record as an innovator at the forefront of enabling digital trading for our clients.