CMC Markets (LON:CMCX) Share Price Breaks Below 50 Day Moving Average – Time to Sell?

CMC Markets Plc (LON:CMCX)’s share price crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of GBX 711.17 and traded as low as GBX 669. CMC Markets shares last traded at GBX 677, with a volume of 250,138 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CMCX shares. Royal Bank Of Canada upped their price objective on CMC Markets from GBX 460 to GBX 760 and gave the company an “outperform” rating in a research note on Monday, August 17th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 500 target price on shares of CMC Markets in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of GBX 462.50.

CMC Markets Stock Performance

The company’s fifty day simple moving average is GBX 711.17 and its two-hundred day simple moving average is GBX 529.88. The company has a debt-to-equity ratio of 24.66, a quick ratio of 2.47 and a current ratio of 16.94. The stock has a market capitalization of £1.83 billion, a P/E ratio of 24.62 and a beta of 0.62.

Insider Buying and Selling

In other news, insider Peter Cruddas sold 23,850 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of GBX 703, for a total transaction of £167,665.50. Also, insider Laurence Booth sold 155,138 shares of CMC Markets stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of GBX 713, for a total value of £1,106,133.94. In the last quarter, insiders have sold 197,827 shares of company stock worth $141,207,770. 64.83% of the stock is owned by corporate insiders.

About CMC Markets

CMC is a leading global provider of online trading and investing, with a comprehensive retail, professional and institutional offering.
The business was started in 1989 with a simple ethos: to make financial markets truly accessible for investors. We are proud of our strong heritage and our successful 30-year track record as an innovator at the forefront of enabling digital trading for our clients.