ME Group International (LON:MEGP) Shares Down 1.6%

ME Group International plc (LON:MEGP) dropped 1.6% during mid-day trading on Wednesday . The company traded as low as GBX 185.40 ($2.42) and last traded at GBX 186.40 ($2.44). Approximately 799,924 shares traded hands during trading, an increase of 48% from the average daily volume of 540,981 shares. The stock had previously closed at GBX 189.40 ($2.48).

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Canaccord Genuity Group restated a “buy” rating and issued a GBX 203 ($2.65) price target on shares of ME Group International in a research report on Tuesday, July 16th. Berenberg Bank restated a “buy” rating and set a GBX 200 ($2.62) price target on shares of ME Group International in a research report on Monday, July 15th.

ME Group International Price Performance

The stock’s 50 day simple moving average is GBX 187.18 and its two-hundred day simple moving average is GBX 174.05. The company has a market capitalization of £711.89 million, a P/E ratio of 1,357.14 and a beta of 1.20.

ME Group International Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 7th will be given a GBX 3.45 ($0.05) dividend. This represents a yield of 1.9%. The ex-dividend date of this dividend is Thursday, November 7th. ME Group International’s dividend payout ratio (DPR) is presently 5,714.29%.

Insiders Place Their Bets

In related news, insider Jean-Marc Janailhac sold 198,555 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of GBX 184 ($2.41), for a total value of £365,341.20 ($477,757.55). Company insiders own 37.26% of the company’s stock.

ME Group International Company Profile

ME Group International plc operates, sells, and services a range of instant-service equipment in the United Kingdom. The company operates through Asia Pacific, Continental Europe, and United Kingdom and Ireland segments. It operates coin-operated automatic photobooths for identification and fun purposes, as well as vending equipment, including digital photo kiosks, laundry machines, business service equipment, amusement machines, and children's rides.