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

CMC Markets Plc (LON:CMCX)’s stock price rose 28.9% 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. Approximately 12,959,912 shares changed hands during mid-day trading, an increase of 1,846% from the average daily volume of 666,025 shares. The stock had previously closed at GBX 207.50.

Separately, Panmure Gordon lifted their price target on shares of CMC Markets from GBX 240 to GBX 260 and gave the stock a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 295.

Insider Buying and Selling at CMC Markets

In other CMC Markets news, insider David Fineberg acquired 134 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were bought at an average price of GBX 225 per share, with a total value of £301.50. 64.11% of the stock is owned by company insiders.

CMC Markets Stock Up 6.7%

The company’s 50 day moving average price is GBX 220.88 and its two-hundred day moving average price is GBX 236.53. The firm has a market cap of £777.95 million, a PE ratio of 12.63 and a beta of 0.51. The company has a current ratio of 2.18, a quick ratio of 2.47 and a debt-to-equity ratio of 4.19.

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%. On average, equities research analysts expect that CMC Markets Plc will post 20.9884902 EPS for the current fiscal year.

About CMC Markets

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.