3I (III) Trading Up 9,578.1%
Shares of 3i (LON:III) were up 9,578.1% on Wednesday . The stock traded as high as GBX 900 ($12.11) and last traded at GBX 887 ($11.94). Approximately 2,720,714 shares changed hands during trading, an increase of 54% from the average daily volume of 1,770,000 shares. The stock had previously closed at GBX 9.17 ($0.12).
Several analysts have weighed in on III shares. Societe Generale reaffirmed a “buy” rating and set a GBX 1,020 ($13.73) target price on shares of 3I in a research note on Tuesday, September 19th. Canaccord Genuity lifted their price target on 3I from GBX 975 ($13.12) to GBX 1,030 ($13.86) and gave the company a “buy” rating in a research report on Friday, November 24th. Finally, Barclays reiterated an “overweight” rating and set a GBX 1,000 ($13.46) price target on shares of 3I in a research report on Tuesday, September 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of GBX 969.17 ($13.04).
The company also recently declared a dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Thursday, December 14th will be given a dividend of GBX 8 ($0.11) per share. This represents a dividend yield of 0.86%. The ex-dividend date is Thursday, December 14th.
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3I Company Profile
3i Group plc is an investment company with approximately three complementary businesses, Private Equity, Infrastructure and Debt Management, specializing in core investment markets in northern Europe and North America. The Company’s Private Equity business includes investment and asset management to generate capital returns, and is focused on consumer, industrial and business services sectors.
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