Insider Buying: Airtel Africa Plc (LON:AAF) Insider Acquires 15,000,000 Shares of Stock

Airtel Africa Plc (LON:AAF) insider Shravin Bharti Mittal acquired 15,000,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of GBX 105 ($1.30) per share, for a total transaction 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 acquired 688,175 shares of Airtel Africa stock. The stock was 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 bought 804,887 shares of Airtel Africa stock. The shares were acquired at an average price of GBX 96 ($1.19) per share, with a total value 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 stock has a market cap of £4.36 billion, a P/E ratio of -3,941.07, a PEG ratio of 0.58 and a beta of 1.04. The company’s fifty day simple moving average is GBX 105.05 and its 200-day simple moving average is GBX 111.69. The company has a current ratio of 0.52, a quick ratio of 0.26 and a debt-to-equity ratio of 180.85. Airtel Africa Plc has a 52 week low of GBX 90.20 ($1.12) and a 52 week 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. Shareholders of record on Thursday, November 7th were given a $0.03 dividend. The ex-dividend date was Thursday, November 7th. This represents a yield of 1.74%. Airtel Africa’s payout ratio is currently -16,666.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AAF shares. JPMorgan Chase & Co. raised their price objective on shares of Airtel Africa from GBX 121 ($1.50) to GBX 128 ($1.59) and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of 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.

About Airtel Africa

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers.