Bloomsbury Publishing (LON:BMY) Shares Cross Above 200-Day Moving Average – Here’s Why

Bloomsbury Publishing Plc (LON:BMY) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 656.59 ($8.27) and traded as high as GBX 680 ($8.57). Bloomsbury Publishing shares last traded at GBX 672 ($8.47), with a volume of 122,789 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank began coverage on Bloomsbury Publishing in a research report on Wednesday, November 6th. They set a “buy” rating and a GBX 825 ($10.40) target price on the stock.

Bloomsbury Publishing Stock Performance

The company has a quick ratio of 1.04, a current ratio of 1.67 and a debt-to-equity ratio of 4.40. The firm has a 50-day simple moving average of GBX 680.48 and a 200 day simple moving average of GBX 656.59. The company has a market cap of £547.28 million, a price-to-earnings ratio of 1,723.08 and a beta of 0.66.

Bloomsbury Publishing Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, October 31st will be issued a GBX 3.89 ($0.05) dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a dividend yield of 0.57%. Bloomsbury Publishing’s payout ratio is 3,846.15%.

Insider Buying and Selling

In related news, insider Nigel Newton sold 58,378 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of GBX 713 ($8.99), for a total value of £416,235.14 ($524,555.94). 8.26% of the stock is owned by company insiders.

About Bloomsbury Publishing

Bloomsbury Publishing Plc publishes academic, educational, and general fiction and non-fiction books for children, teachers, students, researchers, and professionals worldwide. The company offers books and digital resources to international research community and higher education students; online law, accounting, and tax services for the United Kingdom and professionals; and publishing services for corporations and institutions.