CMC Markets (LON:CMCX) Shares Up 28.9% After Analyst Upgrade

CMC Markets Plc (LON:CMCX)’s stock price rose 28.9% during mid-day 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. Approximately 12,959,912 shares were traded 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 target price on shares of CMC Markets from GBX 240 to GBX 260 and gave the company a “hold” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 295.

Insider Buying and Selling at CMC Markets

In related news, insider David Fineberg purchased 134 shares of the stock in a transaction dated Monday, October 6th. The stock was purchased at an average price of GBX 225 per share, with a total value of £301.50. 64.11% of the stock is owned by insiders.

CMC Markets Price Performance

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

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