Canaccord Genuity Group Reaffirms Buy Rating for Zegona Communications (LON:ZEG)

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a GBX 825 ($10.46) target price on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 43.48% from the company’s previous close.

Zegona Communications Stock Performance

Shares of LON ZEG opened at GBX 575 ($7.29) on Tuesday. Zegona Communications has a fifty-two week low of GBX 194 ($2.46) and a fifty-two week high of GBX 595 ($7.55). The stock has a market cap of £5.33 billion, a PE ratio of -47.68 and a beta of 2.80. The stock has a fifty day moving average of GBX 456.49 and a 200-day moving average of GBX 381.83.

Insider Buying and Selling

In related news, insider Richard Williams bought 12,363 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of GBX 404 ($5.12) per share, for a total transaction of £49,946.52 ($63,343.72). Also, insider Ashley G. Martin purchased 12,750 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of GBX 330 ($4.19) per share, for a total transaction of £42,075 ($53,360.81). 74.68% of the stock is owned by corporate insiders.

Zegona Communications Company Profile

Zegona is a British company investing strategically across the Europe with the objective of acquiring businesses in the European TMT sector, using a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns.

The first acquisition made by Zegona was of Asturian telecommunications operator Telecable in 2015.