Bloomsbury Publishing (LON:BMY) Shares Up 9.6% - Here's Why

Key Points

• Bloomsbury Publishing's shares surged by 9.6% to GBX 535 ($7.15), following a significant increase in trading volume by 1,522% compared to the average.
• Analysts have issued new price targets for Bloomsbury Publishing, with Peel Hunt and Berenberg Bank setting targets at GBX 815 and GBX 825, respectively, both maintaining a "buy" rating.
• Insider transactions revealed company executives purchased shares totaling £179,011 in the past three months, indicating confidence in Bloomsbury's performance.

Bloomsbury Publishing Plc (LON:BMY - Get Free Report) shot up 9.6% on Thursday . The company traded as high as GBX 538 ($7.19) and last traded at GBX 535 ($7.15). 5,966,628 shares traded hands during mid-day trading, an increase of 1,522% from the average session volume of 367,825 shares. The stock had previously closed at GBX 488 ($6.52).

Analysts Set New Price Targets

A number of research firms recently weighed in on BMY. Peel Hunt reaffirmed a "buy" rating and issued a GBX 815 price target on shares of Bloomsbury Publishing in a report on Thursday, September 18th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 825 price target on shares of Bloomsbury Publishing in a report on Thursday, September 18th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of GBX 820.

Bloomsbury Publishing Stock Up 4.3%

The business has a fifty day simple moving average of GBX 485.56 and a 200 day simple moving average of GBX 517.78. The firm has a market cap of £414.31 million, a price-to-earnings ratio of 16.57 and a beta of 0.66. The company has a debt-to-equity ratio of 15.10, a current ratio of 1.52 and a quick ratio of 1.04.

Bloomsbury Publishing (LON:BMY - Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported GBX 23.14 EPS for the quarter. Bloomsbury Publishing had a return on equity of 18.62% and a net margin of 9.77%. As a group, equities analysts forecast that Bloomsbury Publishing Plc will post 2529.9999179 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Leslie-Ann Reed purchased 16,938 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of GBX 472 per share, with a total value of £79,947.36. Also, insider Nigel Newton purchased 20,300 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was bought at an average cost of GBX 488 per share, with a total value of £99,064. Insiders bought a total of 48,915 shares of company stock worth $23,401,003 in the last three months. Company insiders own 3.54% of the company's stock.

Bloomsbury Publishing Company Profile

Bloomsbury Publishing Plc publishes academic, educational, and general fiction and non-fiction books for children, teachers, students, researchers, and professionals worldwide. The company offers books and digital resources to international research community and higher education students; online law, accounting, and tax services for the United Kingdom and professionals; and publishing services for corporations and institutions.

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