SSP Group (LON:SSPG) Trading 8.7% Higher Following Dividend Announcement

SSP Group plc (LON:SSPG)’s share price traded up 8.7% during trading on Tuesday after the company announced a dividend. The stock traded as high as GBX 176.20 ($2.24) and last traded at GBX 176.20 ($2.24). 43,722,961 shares changed hands during mid-day trading, an increase of 1,645% from the average session volume of 2,505,273 shares. The stock had previously closed at GBX 162.10 ($2.06).

The newly announced dividend which will be paid on Thursday, February 27th. Investors of record on Thursday, January 30th will be issued a GBX 2.30 ($0.03) dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a dividend yield of 1.42%. This is a boost from SSP Group’s previous dividend of $1.20. SSP Group’s payout ratio is 20,000.00%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Shore Capital restated a “house stock” rating on shares of SSP Group in a report on Wednesday. Berenberg Bank restated a “hold” rating and issued a GBX 180 ($2.29) price objective on shares of SSP Group in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 268.75 ($3.41).

SSP Group Stock Up 1.3 %

The company has a current ratio of 0.35, a quick ratio of 0.66 and a debt-to-equity ratio of 595.27. The company has a market cap of £1.44 billion, a price-to-earnings ratio of 18,000.00, a PEG ratio of -0.77 and a beta of 1.88. The firm’s fifty day simple moving average is GBX 162.15 and its 200 day simple moving average is GBX 165.46.

Insiders Place Their Bets

In other SSP Group news, insider Apurvi Sheth purchased 4,500 shares of SSP Group stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average price of GBX 167 ($2.12) per share, for a total transaction of £7,515 ($9,548.92). Also, insider Jonathan Davies sold 33,392 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of GBX 159 ($2.02), for a total transaction of £53,093.28 ($67,462.87). Insiders bought 4,657 shares of company stock worth $776,540 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

About SSP Group

SSP Group plc operates food and beverage outlets in North America, Europe, the United Kingdom, Ireland, the Asia Pacific, Eastern Europe, the Middle East, and internationally. The company operates outlets at airports, railway stations, motorway service areas, hospitals, and shopping centers. It also operates sandwich shops, cafes, bars, and restaurants.