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

Shares of CMC Markets Plc (LON:CMCX) traded up 28.9% during trading on Thursday 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. 6,522,745 shares traded hands during trading, an increase of 923% from the average session volume of 637,542 shares. The stock had previously closed at GBX 207.50.

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

Insiders Place Their Bets

In other CMC Markets news, insider David Fineberg acquired 134 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were purchased at an average price of GBX 225 per share, with a total value of £301.50. Insiders own 64.11% of the company’s stock.

CMC Markets Stock Performance

The company has a market cap of £777.95 million, a P/E ratio of 12.63 and a beta of 0.51. The company has a debt-to-equity ratio of 4.19, a quick ratio of 2.47 and a current ratio of 2.18. The firm has a 50 day moving average price of GBX 220.88 and a 200-day moving average price of GBX 236.53.

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

CMC Markets Company Profile

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.