CAB Payments (LON:CABP) Stock Price Up 18.9% - Here's Why

CAB Payments Holdings Limited (LON:CABP - Get Free Report) shot up 18.9% during mid-day trading on Tuesday . The company traded as high as GBX 55 ($0.75) and last traded at GBX 54.70 ($0.75). 2,140,292 shares were traded during mid-day trading, an increase of 332% from the average session volume of 495,760 shares. The stock had previously closed at GBX 46 ($0.63).

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CABP. Canaccord Genuity Group cut their price objective on shares of CAB Payments from GBX 105 ($1.43) to GBX 99 ($1.35) and set a "speculative buy" rating on the stock in a research report on Thursday, March 13th. Shore Capital reiterated a "house stock" rating on shares of CAB Payments in a research note on Wednesday, June 4th.

CAB Payments Price Performance

The business has a 50-day moving average of GBX 44.66 and a 200-day moving average of GBX 51.57. The firm has a market cap of £127.27 million and a price-to-earnings ratio of 6.56.

Insider Buying and Selling at CAB Payments

In related news, insider Susanne Chishti acquired 57,890 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was bought at an average price of GBX 41 ($0.56) per share, with a total value of £23,734.90 ($32,402.59). 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.