Insider Buying: Airtel Africa Plc (LON:AAF) Insider Buys 804,887 Shares of Stock

Airtel Africa Plc (LON:AAF) insider Shravin Bharti Mittal purchased 804,887 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of GBX 96 ($1.21) per share, for a total transaction of £772,691.52 ($971,328.12).

Airtel Africa Price Performance

The firm’s 50-day moving average price is GBX 108.91 and its two-hundred day moving average price is GBX 113.85. The firm has a market cap of £3.68 billion, a P/E ratio of -3,328.33, a P/E/G ratio of 0.58 and a beta of 1.04. Airtel Africa Plc has a one year low of GBX 90.20 ($1.13) and a one year high of GBX 132.50 ($1.67). The company has a debt-to-equity ratio of 180.85, a quick ratio of 0.26 and a current ratio of 0.52.

Airtel Africa Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 7th will be given a dividend of $0.03 per share. This represents a yield of 1.74%. The ex-dividend date is Thursday, November 7th. Airtel Africa’s payout ratio is -16,666.67%.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft raised their target price on shares of Airtel Africa from GBX 150 ($1.89) to GBX 155 ($1.95) and gave the stock a “buy” rating in a report on Monday, September 23rd.

About Airtel Africa

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers.