Connect Group (LON:CNCT) Hits New 52-Week Low at $12.55

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Shares of Connect Group PLC (LON:CNCT) hit a new 52-week low during trading on Thursday . The company traded as low as GBX 12.55 ($0.16) and last traded at GBX 13.52 ($0.17), with a volume of 905720 shares traded. The stock had previously closed at GBX 14.95 ($0.19).

A number of brokerages have commented on CNCT. Peel Hunt reaffirmed a “hold” rating on shares of Connect Group in a research note on Wednesday, May 13th. Berenberg Bank reduced their target price on shares of Connect Group from GBX 40 ($0.51) to GBX 15 ($0.19) and set a “hold” rating on the stock in a research note on Wednesday, March 18th.

The firm has a market capitalization of $32.20 million and a PE ratio of -0.71. The business’s 50 day moving average price is GBX 18.13 and its 200-day moving average price is GBX 25.83.

In related news, insider David Blackwood purchased 80,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of GBX 20 ($0.25) per share, for a total transaction of £16,000 ($20,364.01).

Connect Group Company Profile (LON:CNCT)

Connect Group PLC engages in the distribution of newspapers, magazines, and books products in the United Kingdom and internationally. The company operates through News & Media: News Distribution, News & Media: Media, and Mixed Freight segments. The News & Media: News Distribution segment distributes newspapers and magazines to 27,000 retailers from 39 distribution centers across England and Wales.

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