CAB Payments (LON:CABP) Trading Up 18.9% - Here's What Happened

CAB Payments Holdings Limited (LON:CABP - Get Free Report) was up 18.9% on Tuesday . The stock traded as high as GBX 55 ($0.75) and last traded at GBX 54.70 ($0.75). Approximately 2,123,292 shares changed hands during trading, an increase of 328% from the average daily volume of 495,624 shares. The stock had previously closed at GBX 46 ($0.63).

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CABP shares. Canaccord Genuity Group lowered their target price on CAB Payments from GBX 105 ($1.43) to GBX 99 ($1.35) and set a "speculative buy" rating for the company in a report on Thursday, March 13th. Shore Capital reaffirmed a "house stock" rating on shares of CAB Payments in a research note on Wednesday, June 4th.

CAB Payments Stock Down 2.9%

The stock has a market cap of £127.27 million and a P/E ratio of 6.56. The company's 50 day moving average price is GBX 44.66 and its 200-day moving average price is GBX 51.57.

Insider Transactions at CAB Payments

In related news, insider Susanne Chishti purchased 57,890 shares of CAB Payments stock in a transaction on Wednesday, April 23rd. The shares were purchased at an average price of GBX 41 ($0.56) per share, for a total transaction of £23,734.90 ($32,393.75). 64.28% of the stock is currently owned by corporate 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.