Insider Buying: Airtel Africa Plc (LON:AAF) Insider Purchases £15,750,000 in Stock

Airtel Africa Plc (LON:AAF) insider Shravin Bharti Mittal acquired 15,000,000 shares of Airtel Africa stock in a transaction on Friday, December 27th. The shares were purchased at an average price of GBX 105 ($1.30) per share, with a total value of £15,750,000 ($19,565,217.39).

Shravin Bharti Mittal also recently made the following trade(s):

• On Friday, November 22nd, Shravin Bharti Mittal purchased 688,175 shares of Airtel Africa stock. The shares were purchased at an average cost of GBX 98 ($1.22) per share, with a total value of £674,411.50 ($837,778.26).
• On Wednesday, November 20th, Shravin Bharti Mittal acquired 804,887 shares of Airtel Africa stock. The stock was acquired at an average cost of GBX 96 ($1.19) per share, for a total transaction of £772,691.52 ($959,865.24).

Airtel Africa Trading Up 1.0 %

LON:AAF opened at GBX 118.23 ($1.47) on Friday. The company has a market cap of £4.36 billion, a PE ratio of -3,941.07, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.26 and a debt-to-equity ratio of 180.85. The company has a 50 day simple moving average of GBX 105.10 and a two-hundred day simple moving average of GBX 111.68. Airtel Africa Plc has a 12 month low of GBX 90.20 ($1.12) and a 12 month high of GBX 132.50 ($1.65).

Airtel Africa Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 7th were issued a $0.03 dividend. This represents a dividend yield of 1.74%. The ex-dividend date was Thursday, November 7th. Airtel Africa’s payout ratio is currently -16,666.67%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAF. Deutsche Bank Aktiengesellschaft boosted their price target on Airtel Africa from GBX 150 ($1.86) to GBX 155 ($1.93) and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on Airtel Africa from GBX 121 ($1.50) to GBX 128 ($1.59) and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.