Telit Communications Plc (TCM) Insider Sells £24,077,508 in Stock
Telit Communications Plc (LON:TCM) insider Oozi Cats sold 7,081,620 shares of Telit Communications Plc stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of GBX 340 ($4.42), for a total transaction of £24,077,508 ($31,322,372.84).
Oozi Cats also recently made the following trade(s):
- On Wednesday, March 22nd, Oozi Cats bought 242 shares of Telit Communications Plc stock. The shares were acquired at an average price of GBX 316 ($4.11) per share, for a total transaction of £764.72 ($994.82).
Telit Communications Plc (LON:TCM) opened at 340.00 on Wednesday. The firm has a 50-day moving average of GBX 352.59 and a 200-day moving average of GBX 301.13. Telit Communications Plc has a 52-week low of GBX 180.00 and a 52-week high of GBX 379.00. The firm’s market capitalization is GBX 392.62 million.
The company also recently disclosed a dividend, which was paid on Friday, May 5th. Shareholders of record on Thursday, April 6th were paid a dividend of €0.05 ($0.06) per share. The ex-dividend date was Thursday, April 6th. This represents a yield of 1.21%.
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A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Telit Communications Plc from GBX 325 ($4.23) to GBX 375 ($4.88) and gave the company an “outperform” rating in a research report on Tuesday, March 14th. Canaccord Genuity boosted their price target on shares of Telit Communications Plc from GBX 355 ($4.62) to GBX 390 ($5.07) and gave the company a “buy” rating in a research report on Wednesday, April 26th. Berenberg Bank restated a “buy” rating and issued a GBX 415 ($5.40) price target on shares of Telit Communications Plc in a research report on Tuesday. Finally, Morgan Stanley restated an “overweight” rating and issued a GBX 350 ($4.55) price target on shares of Telit Communications Plc in a research report on Wednesday, March 22nd. Five analysts have rated the stock with a buy rating, Telit Communications Plc has a consensus rating of “Buy” and an average target price of GBX 370 ($4.81).
About Telit Communications Plc
Telit Communications PLC (Telit) is a United Kingdom-based enabler of machine-to-machine (M2M) communications providing cellular, short range and positioning modules via its brand Telit Wireless Solutions. The Company develops and markets cellular, global navigation satellite system (GNSS), short-to-long range wireless modules plus mobile connectivity services and application enablement platform to onboard edge devices to the Internet of Things (IoT).
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