Midwich Group (LON:MIDW) Stock Price Down 12.5% – Here’s What Happened

Midwich Group plc (LON:MIDW) shares traded down 12.5% during mid-day trading on Monday . The stock traded as low as GBX 265.90 ($3.47) and last traded at GBX 280 ($3.66). 2,876,841 shares changed hands during mid-day trading, an increase of 808% from the average session volume of 316,928 shares. The stock had previously closed at GBX 320.03 ($4.18).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 620 ($8.10) target price on shares of Midwich Group in a research report on Tuesday, September 3rd.

Midwich Group Trading Down 12.5 %

The business has a 50-day moving average price of GBX 323.95 and a two-hundred day moving average price of GBX 365.06. The stock has a market capitalization of £286.47 million, a P/E ratio of 1,454.66 and a beta of 0.66. The company has a current ratio of 1.44, a quick ratio of 0.78 and a debt-to-equity ratio of 96.77.

Midwich Group Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, September 12th were given a dividend of GBX 5.50 ($0.07) per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a dividend yield of 1.7%. Midwich Group’s payout ratio is 7,727.27%.

About Midwich Group

Midwich Group plc, together with its subsidiaries, distributes audio visual (AV) solutions to trade customers in the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, the Asia Pacific, and North America. The company distributes various AV categories, such as displays, projectors, technical and professional video products, audio and digital signage products, and broadcast products, as well as lighting and unified communications products.