Thomas Cook Group (TCG) Trading Up 17.3% After Insider Buying Activity
Thomas Cook Group plc (LON:TCG) rose 17.3% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as GBX 26.87 ($0.35) and last traded at GBX 26.66 ($0.35). Approximately 15,867,901 shares traded hands during trading, an increase of 254% from the average daily volume of 4,480,000 shares. The stock had previously closed at GBX 22.72 ($0.30).
Specifically, insider Frank Meysman bought 373,000 shares of Thomas Cook Group stock in a transaction dated Tuesday, December 4th. The shares were bought at an average price of GBX 22 ($0.29) per share, with a total value of £82,060 ($107,225.92).
TCG has been the topic of several recent research reports. Shore Capital reaffirmed a “hold” rating on shares of Thomas Cook Group in a research note on Tuesday, November 27th. Credit Suisse Group reduced their target price on shares of Thomas Cook Group from GBX 140 ($1.83) to GBX 108 ($1.41) and set an “outperform” rating on the stock in a research note on Thursday, November 15th. Numis Securities reissued a “buy” rating and set a GBX 142 ($1.86) price objective on shares of Thomas Cook Group in a research note on Tuesday, September 18th. UBS Group reissued a “neutral” rating and set a GBX 60 ($0.78) price objective on shares of Thomas Cook Group in a research note on Friday, November 23rd. Finally, Berenberg Bank lowered shares of Thomas Cook Group to a “sell” rating and reduced their price objective for the stock from GBX 100 ($1.31) to GBX 65 ($0.85) in a research note on Monday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 102.90 ($1.34).
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Thomas Cook Group Company Profile (LON:TCG)
Thomas Cook Group plc provides leisure travel services in the United Kingdom, Continental Europe, Northern Europe, and Germany. The company operates through Group Tour Operator and Group Airline segments. It owns, manages, or franchises 190 own-brand hotels in 16 countries under the Casa Cook, Sunwing, Sunprime, Sunconnect, Sentido, Smartline, and Aldiana brands, as well as partner hotels.
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