Manolete Partners (LON:MANO) Trading Up 7.1% – Here’s Why

Manolete Partners Plc (LON:MANO)’s stock price traded up 7.1% during mid-day trading on Thursday . The company traded as high as GBX 38 and last traded at GBX 37.50. 1,478,018 shares were traded during mid-day trading, an increase of 1,584% from the average session volume of 87,754 shares. The stock had previously closed at GBX 35.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut their target price on Manolete Partners from GBX 130 to GBX 67 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 67.

Manolete Partners Stock Down 4.0%

The stock has a market cap of £15.77 million, a price-to-earnings ratio of 25.53 and a beta of 0.60. The company has a 50 day simple moving average of GBX 39.91 and a 200 day simple moving average of GBX 51.17.

Manolete Partners (LON:MANO) last posted its quarterly earnings results on Thursday, June 25th. The company reported GBX 2.50 earnings per share for the quarter. The company had revenue of GBX 2,788 million for the quarter. Manolete Partners had a net margin of 3.92% and a return on equity of 2.62%. As a group, analysts predict that Manolete Partners Plc will post 4.2845258 earnings per share for the current fiscal year.

Manolete Partners Company Profile

Manolete Partners Plc is the UK’s leading insolvency claims financing company. Serving a growing market worth over £500 million annually, the Company has a highly experienced team with coverage across the UK and a proven track record of generating strong historic returns across over 1,300 cases financed and completed to date.

Widely recognised as the industry leader, Manolete is the only company in the insolvency litigation funding section to be ranked in Band 1 of the legal industry’s prestigious Chambers Guide five times.