Manolete Partners (LON:MANO) Stock Price Up 7.1% – Here’s What Happened

Shares of Manolete Partners Plc (LON:MANO) were up 7.1% on Thursday . The company traded as high as GBX 38 and last traded at GBX 37.50. Approximately 1,478,018 shares changed hands during trading, an increase of 1,584% from the average session volume of 87,754 shares. The stock had previously closed at GBX 35.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their target price on shares of Manolete Partners from GBX 130 to GBX 67 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of GBX 67.

Manolete Partners Trading Up 7.1%

The company has a current ratio of 3.98, a quick ratio of 6.25 and a debt-to-equity ratio of 28.95. The stock has a 50-day simple moving average of GBX 40.64 and a 200 day simple moving average of GBX 51.53. The company has a market cap of £16.43 million, a price-to-earnings ratio of 26.60 and a beta of 0.60.

Manolete Partners (LON:MANO) last announced its quarterly earnings data on Thursday, June 25th. The company reported GBX 2.50 earnings per share (EPS) for the quarter. Manolete Partners had a return on equity of 1.54% and a net margin of 2.23%.The firm had revenue of GBX 2,788 million during the quarter. As a group, equities research analysts predict that Manolete Partners Plc will post 4.2845258 EPS for the current fiscal year.

Manolete Partners Company Profile

Manolete Partners Plc is the UK’s leading insolvency claims financing company. Serving a growing market worth over £500 million annually, the Company has a highly experienced team with coverage across the UK and a proven track record of generating strong historic returns across over 1,300 cases financed and completed to date.

Widely recognised as the industry leader, Manolete is the only company in the insolvency litigation funding section to be ranked in Band 1 of the legal industry’s prestigious Chambers Guide five times.