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

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

Wall Street Analyst Weigh In

CABP has been the subject of several recent research reports. Canaccord Genuity Group lowered their target price on shares of 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 reiterated a "house stock" rating on shares of CAB Payments in a report on Wednesday, June 4th.

CAB Payments Stock Down 1.4%

The company's fifty day moving average price is GBX 44.79 and its 200-day moving average price is GBX 51.33. The stock has a market capitalization of £128.80 million and a PE ratio of 6.64.

Insider Activity

In other CAB Payments news, insider Susanne Chishti acquired 57,890 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were acquired at an average cost of GBX 41 ($0.56) per share, with a total value of £23,734.90 ($32,384.91). Insiders own 64.28% of the company's stock.

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.