Workspace Group (LON:WKP) Hits New 12-Month High at $617.00

Workspace Group Plc (LON:WKP)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 617 ($7.90) and last traded at GBX 615 ($7.88), with a volume of 476811 shares trading hands. The stock had previously closed at GBX 606 ($7.76).

Wall Street Analysts Forecast Growth

WKP has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Workspace Group from GBX 550 ($7.04) to GBX 595 ($7.62) and gave the stock an “overweight” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on shares of Workspace Group from GBX 650 ($8.33) to GBX 700 ($8.97) and gave the stock an “overweight” rating in a research note on Thursday, June 6th.

Workspace Group Trading Up 1.5 %

The company has a market cap of £1.18 billion, a P/E ratio of -522.41, a PEG ratio of 1.54 and a beta of 1.05. The stock’s 50 day moving average is GBX 559.49 and its 200-day moving average is GBX 528.44. The company has a current ratio of 1.30, a quick ratio of 0.11 and a debt-to-equity ratio of 56.11.

Workspace Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, August 2nd. Stockholders of record on Thursday, July 4th will be paid a GBX 19 ($0.24) dividend. This represents a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, July 4th. This is a boost from Workspace Group’s previous dividend of $9.00. Workspace Group’s dividend payout ratio is -2,241.38%.

Insider Transactions at Workspace Group

In related news, insider Graham Clemett sold 3,597 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of GBX 590 ($7.56), for a total value of £21,222.30 ($27,183.68). In other Workspace Group news, insider Graham Clemett sold 3,597 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of GBX 590 ($7.56), for a total transaction of £21,222.30 ($27,183.68). Also, insider David Benson sold 19,129 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of GBX 6 ($0.08), for a total transaction of £1,147.74 ($1,470.14). Company insiders own 28.97% of the company’s stock.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more.