Telecom plus PLC (LON:TEP) Insider Melvin Lawson Acquires 700,000 Shares

Telecom plus PLC (LON:TEP) insider Melvin Lawson acquired 700,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were purchased at an average price of GBX 1,350 ($17.18) per share, with a total value of £9,450,000 ($12,027,491.41).

LON:TEP traded down GBX 66 ($0.84) during trading hours on Friday, reaching GBX 1,380 ($17.56). The company had a trading volume of 177,729 shares, compared to its average volume of 67,307. The company has a quick ratio of 0.74, a current ratio of 1.50 and a debt-to-equity ratio of 34.64. The firm has a market cap of $1.08 billion and a price-to-earnings ratio of 32.02. The business’s 50-day simple moving average is GBX 1,409.52 and its two-hundred day simple moving average is GBX 1,399.54. Telecom plus PLC has a twelve month low of GBX 907 ($11.54) and a twelve month high of GBX 1,585 ($20.17).

The business also recently declared a dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 9th will be issued a GBX 30 ($0.38) dividend. This represents a yield of 2.11%. This is a boost from Telecom plus’s previous dividend of $27.00. The ex-dividend date of this dividend is Thursday, July 9th. Telecom plus’s dividend payout ratio (DPR) is presently 125.29%.

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Telecom plus from GBX 1,250 ($15.91) to GBX 1,400 ($17.82) and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. FinnCap decreased their price objective on shares of Telecom plus from GBX 1,390 ($17.69) to GBX 1,250 ($15.91) and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Peel Hunt restated a “buy” rating and issued a GBX 1,450 ($18.45) price target (up from GBX 1,350 ($17.18)) on shares of Telecom plus in a report on Monday, June 15th.

About Telecom plus

Telecom Plus PLC provides a range of utility services to residential and small business customers in the United Kingdom. The company operates in two segments, Customer Acquisition and Customer Management. The Customer Acquisition segment sells a range of equipment, such as mobile phone handsets and wireless Internet routers.

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