Insider Buying: Zegona Communications (LON:ZEG) Insider Acquires £988.20 in Stock

Zegona Communications plc (LON:ZEG) insider Timothy Pennington acquired 6,588 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average price of GBX 15 per share, with a total value of £988.20.

Zegona Communications Price Performance

Shares of Zegona Communications stock opened at GBX 1,520 on Monday. The company has a debt-to-equity ratio of 592.64, a quick ratio of 6.23 and a current ratio of 0.70. The firm’s 50-day simple moving average is GBX 1,603.04 and its 200-day simple moving average is GBX 1,682.49. Zegona Communications plc has a twelve month low of GBX 984 and a twelve month high of GBX 1,962. The firm has a market cap of £3.43 billion, a P/E ratio of -50.67 and a beta of 3.43.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 2,500 price objective on shares of Zegona Communications in a research note on Wednesday, July 15th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,300 price target on shares of Zegona Communications in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 2,116.67.

Zegona Communications Company Profile

Zegona is publicly listed on the Main Market of the LSE. It was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson.

In 2024, Zegona completed the acquisition of Vodafone Spain. Vodafone Spain is one of the leading telecoms networks in Spain but following shifts in customer sentiment, Zegona believes the future of the business lies in right-sizing the cost and capex base in the business to the local market context, operating the assets more efficiently and driving value for money service propositions.