Connect Group (LON:CNCT) Receives Hold Rating from Berenberg Bank

Berenberg Bank reissued their hold rating on shares of Connect Group (LON:CNCT) in a report published on Wednesday morning, Digital Look reports. Berenberg Bank currently has a GBX 40 ($0.52) price objective on the stock.

Separately, Peel Hunt reaffirmed a hold rating on shares of Connect Group in a research note on Wednesday.

CNCT opened at GBX 29 ($0.38) on Wednesday. The firm has a market cap of $73.78 million and a P/E ratio of -1.68. Connect Group has a 52 week low of GBX 27.50 ($0.36) and a 52 week high of GBX 46.10 ($0.60). The business’s fifty day simple moving average is GBX 34.73 and its 200 day simple moving average is GBX 37.13.

The business also recently disclosed a dividend, which will be paid on Thursday, February 13th. Investors of record on Thursday, January 16th will be paid a dividend of GBX 1 ($0.01) per share. This represents a dividend yield of 3.44%. The ex-dividend date is Thursday, January 16th. Connect Group’s payout ratio is currently -0.35%.

In related news, insider Gary Kennedy acquired 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of GBX 29 ($0.38) per share, with a total value of £58,000 ($75,787.27).

Connect Group Company Profile

Connect Group PLC engages in the distribution of newspapers, magazines, and books products in the United Kingdom and internationally. The company operates through News & Media: News Distribution, News & Media: Media, and Mixed Freight segments. The News & Media: News Distribution segment distributes newspapers and magazines to 27,000 retailers from 39 distribution centers across England and Wales.

Read More: What does a hold rating mean?

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