CMC Markets (LON:CMCX) Trading Up 28.9% Following Analyst Upgrade

CMC Markets Plc (LON:CMCX)’s share price shot up 28.9% during mid-day 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 mid-day 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 upped their price target on shares of CMC Markets from GBX 240 to GBX 260 and gave the company a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, CMC Markets has a consensus rating of “Moderate Buy” and an average target price of GBX 295.

Insider Activity

In other news, insider David Fineberg acquired 134 shares of CMC Markets stock in a transaction on Monday, October 6th. The stock was acquired at an average cost of GBX 225 per share, with a total value of £301.50. 64.11% of the stock is currently owned by insiders.

CMC Markets Trading Up 28.9%

The firm has a 50-day moving average price of GBX 219.60 and a 200-day moving average price of GBX 236.31. The company has a current ratio of 2.18, a quick ratio of 2.47 and a debt-to-equity ratio of 4.19. The stock has a market capitalization of £728.91 million, a PE ratio of 11.84 and a beta of 0.51.

CMC Markets (LON:CMCX) last posted its quarterly earnings data on Thursday, November 20th. The company reported GBX 13.30 EPS for the quarter. CMC Markets had a return on equity of 86.11% and a net margin of 95.92%. As a group, equities analysts forecast that CMC Markets Plc will post 20.9884902 EPS for the current fiscal 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.