CMC Markets (LON:CMCX) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• CMC Markets shares crossed above their 50-day moving average, reaching GBX 701 before trading at GBX 694, compared with a 50-day average of GBX 610.51.
• Analyst sentiment remains positive: three analysts rate the stock “Buy” and one rates it “Hold,” resulting in a “Moderate Buy” consensus, although the average price target of GBX 387.50 is below the current share price.
• The company reported quarterly revenue of £376.76 million and earnings of GBX 27.50 per share, while insiders sold nearly 198,000 shares worth about £141.2 million over the past 90 days.

Shares of CMC Markets Plc (LON:CMCX - Get Free Report) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 610.51 and traded as high as GBX 701. CMC Markets shares last traded at GBX 694, with a volume of 279,178 shares trading hands.

Wall Street Analyst Weigh In

CMCX has been the topic of several recent research reports. Jefferies Financial Group restated a "buy" rating and issued a GBX 500 price target on shares of CMC Markets in a research report on Wednesday, July 1st. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 460 price objective on shares of CMC Markets in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of GBX 387.50.

CMC Markets Stock Up 0.1%

The company has a market capitalization of £1.87 billion, a P/E ratio of 25.27 and a beta of 0.61. The company has a quick ratio of 2.47, a current ratio of 16.94 and a debt-to-equity ratio of 24.66. The firm has a fifty day simple moving average of GBX 610.51 and a 200-day simple moving average of GBX 442.82.

CMC Markets (LON:CMCX - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported GBX 27.50 earnings per share for the quarter. CMC Markets had a return on equity of 16.86% and a net margin of 18.09%.The business had revenue of £376.76 million for the quarter. On average, equities research analysts expect that CMC Markets Plc will post 20.9884902 EPS for the current fiscal year.

Insider Buying and Selling

In other CMC Markets news, insider Peter Cruddas sold 23,850 shares of CMC Markets stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of GBX 703, for a total value of £167,665.50. Also, insider Laurence Booth sold 155,138 shares of the company's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of GBX 713, for a total transaction of £1,106,133.94. In the last ninety days, insiders sold 197,827 shares of company stock worth $141,207,770. Insiders own 64.83% of the company's stock.

About CMC Markets

CMC is a leading global provider of online trading and investing, with a comprehensive retail, professional and institutional offering. The business was started in 1989 with a simple ethos: to make financial markets truly accessible for investors. We are proud of our strong heritage and our successful 30-year track record as an innovator at the forefront of enabling digital trading for our clients.

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