Bloomsbury Publishing (LON:BMY) Stock Crosses Above 200 Day Moving Average – Here’s Why

Bloomsbury Publishing Plc (LON:BMY)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 674.52 ($8.48) and traded as high as GBX 686 ($8.62). Bloomsbury Publishing shares last traded at GBX 684 ($8.60), with a volume of 2,043,751 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank began coverage on Bloomsbury Publishing in a report on Wednesday, November 6th. They set a “buy” rating and a GBX 825 ($10.37) price objective on the stock.

Bloomsbury Publishing Price Performance

The company has a debt-to-equity ratio of 4.40, a current ratio of 1.67 and a quick ratio of 1.04. The company has a market cap of £557.05 million, a price-to-earnings ratio of 1,753.85 and a beta of 0.66. The stock has a 50 day simple moving average of GBX 679.91 and a two-hundred day simple moving average of GBX 674.52.

Bloomsbury Publishing Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, November 29th. Investors of record on Thursday, October 31st were given a dividend of GBX 3.89 ($0.05) per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a dividend yield of 0.57%. Bloomsbury Publishing’s dividend payout ratio is presently 3,846.15%.

Insider Buying and Selling

In other Bloomsbury Publishing news, insider Leslie-Ann Reed purchased 12,139 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of GBX 659 ($8.28) per share, for a total transaction of £79,996.01 ($100,535.39). 8.26% of the stock is currently owned by 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.