CAB Payments (LON:CABP) Trading Down 0.4% - Here's Why

CAB Payments Holdings Limited (LON:CABP - Get Free Report) fell 0.4% during trading on Wednesday . The stock traded as low as GBX 41.20 ($0.57) and last traded at GBX 41.35 ($0.57). 284,819 shares were traded during mid-day trading, a decline of 40% from the average session volume of 475,181 shares. The stock had previously closed at GBX 41.50 ($0.57).

Wall Street Analyst Weigh In

Several brokerages have commented on CABP. Canaccord Genuity Group decreased their price objective on shares of CAB Payments from GBX 105 ($1.44) to GBX 99 ($1.36) and set a "speculative buy" rating for the company in a report on Thursday, March 13th. Shore Capital restated a "house stock" rating on shares of CAB Payments in a report on Wednesday, June 4th.

CAB Payments Trading Up 8.1%

The company's 50 day moving average is GBX 44.06 and its 200-day moving average is GBX 51.83. The company has a market capitalization of £116.73 million and a P/E ratio of 6.02.

Insider Buying and Selling

In other CAB Payments news, insider Susanne Chishti purchased 57,890 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was bought at an average cost of GBX 41 ($0.56) per share, for a total transaction of £23,734.90 ($32,562.63). 64.28% of the stock is owned by company insiders.

About CAB Payments

CAB Payments Holdings plc and its subsidiaries (CAB Payments) is a market leader in business-to-business cross-border payments and foreign exchange, specialising in hard-to-reach markets. CAB Payments uses its strength of network, technology, and expertise to seamlessly move money where it's needed and is the holding company for Crown Agents Bank, a UK-regulated bank.