Macquarie Initiates Coverage on Zegona Communications PLC (ZEG)
Analysts at Macquarie began coverage on shares of Zegona Communications PLC (LON:ZEG) in a note issued to investors on Tuesday. The firm set an “outperform” rating and a GBX 150 ($1.83) price target on the stock. Macquarie’s price objective suggests a potential upside of 30.43% from the company’s previous close.
Zegona Communications PLC (LON:ZEG) opened at 115.00 on Tuesday. The company’s market capitalization is GBX 225.45 million. The company has a 50-day moving average price of GBX 108.64 and a 200-day moving average price of GBX 118.66. Zegona Communications PLC has a one year low of GBX 98.50 and a one year high of GBX 145.00.
The company also recently declared a dividend, which was paid on Friday, October 14th. Shareholders of record on Thursday, September 22nd were issued a GBX 2.25 ($0.03) dividend. This represents a yield of 2.16%. The ex-dividend date of this dividend was Thursday, September 22nd.
In other news, insider Brangstrup Watts,Mark purchased 3,941,901 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average cost of GBX 113 ($1.38) per share, with a total value of £4,454,348.13 ($5,428,821.61). Also, insider Kalika,Howard purchased 15,000 shares of the business’s stock in a transaction on Friday, September 9th. The stock was purchased at an average cost of GBX 103 ($1.26) per share, for a total transaction of £15,450 ($18,829.98).
Zegona Communications PLC Company Profile
Zegona Communications plc is a United Kingdom-based company focusing on network-based communications and entertainment opportunities. The Company’s segments include Telecable Group and Central Costs. The Telecable Group represents the operational side of telecommunications business of the Company, whereas the Central Costs Segment incorporates the remaining subsidiaries, which represent the administrative segment of the Company and are mainly cost bearing entities and holding companies.
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