CAB Payments (LON:CABP) Trading Up 18.9% - Still a Buy?

CAB Payments Holdings Limited (LON:CABP - Get Free Report)'s stock price shot up 18.9% during mid-day trading on Tuesday . The stock traded as high as GBX 55 ($0.76) and last traded at GBX 54.70 ($0.75). 2,140,292 shares changed hands 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 analysts have recently issued reports on the stock. Shore Capital reaffirmed a "house stock" rating on shares of CAB Payments in a research note on Wednesday, June 4th. Canaccord Genuity Group reduced their price target on shares of CAB Payments from GBX 105 ($1.44) to GBX 99 ($1.36) and set a "speculative buy" rating on the stock in a research report on Thursday, March 13th.

CAB Payments Stock Performance

The company's 50-day simple moving average is GBX 44.10 and its 200 day simple moving average is GBX 51.67. The company has a market cap of £138.96 million and a PE ratio of 7.16.

Insider Buying and Selling

In related news, insider Susanne Chishti bought 57,890 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were purchased at an average cost of GBX 41 ($0.56) per share, with a total value of £23,734.90 ($32,616.33). 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.

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