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

Shares of CMC Markets Plc (LON:CMCX) shot 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. 12,959,912 shares changed hands during trading, an increase of 1,846% from the average session volume of 666,025 shares. The stock had previously closed at GBX 207.50.

Separately, Panmure Gordon raised their price target on 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 company’s stock. Based on data from MarketBeat.com, CMC Markets 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 bought at an average cost of GBX 225 per share, for a total transaction of £301.50. Insiders own 64.11% of the company’s stock.

CMC Markets Trading Up 28.9%

The firm’s fifty day moving average is GBX 218.70 and its 200-day moving average is GBX 236.09. The firm has a market cap of £728.91 million, a price-to-earnings 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.

CMC Markets (LON:CMCX) last released its quarterly earnings data 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%. Equities analysts anticipate that CMC Markets Plc will post 20.9884902 earnings per share 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.