Smiths News (LON:SNWS) Shares Down 9.5% - Here's Why

Smiths News plc (LON:SNWS - Get Free Report) fell 9.5% during mid-day trading on Thursday . The stock traded as low as GBX 59.40 ($0.73) and last traded at GBX 61.20 ($0.75). 1,615,870 shares changed hands during trading, an increase of 37% from the average session volume of 1,183,762 shares. The stock had previously closed at GBX 67.60 ($0.83).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 95 ($1.17) price target on shares of Smiths News in a research report on Tuesday, November 5th.

Smiths News Price Performance

The firm has a market capitalization of £145.10 million, a PE ratio of 680.00, a P/E/G ratio of 0.29 and a beta of 0.83. The business has a 50-day simple moving average of GBX 63.04 and a 200-day simple moving average of GBX 59.84.

Smiths News Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, February 6th. Investors of record on Thursday, January 9th will be issued a dividend of GBX 5.40 ($0.07) per share. This represents a yield of 9.47%. This is an increase from Smiths News's previous dividend of $1.75. The ex-dividend date is Thursday, January 9th. Smiths News's dividend payout ratio is presently 5,555.56%.

Insider Activity

In other news, insider Deborah Rabey acquired 20,663 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of GBX 63 ($0.78) per share, with a total value of £13,017.69 ($16,017.83). Also, insider Paul Baker sold 319,586 shares of Smiths News stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of GBX 61 ($0.75), for a total value of £194,947.46 ($239,876.29). Over the last 90 days, insiders have sold 1,993,578 shares of company stock valued at $121,608,258. 13.12% of the stock is currently owned by insiders.

Smiths News Company Profile

In 1792 we started delivering the nation's newspapers. Today, we're proud to be the UK's largest wholesaler of newspapers and magazines, serving 24,000 retailers from superstores to corner shops. Service and efficiency put us at the forefront of our industry and with 55% market share we are the leading player in one of the world's fastest-moving supply chains.