Thomas Cook Group (TCG) Stock Price Up 17.3% on Insider Buying Activity

Thomas Cook Group plc (LON:TCG)’s share price rose 17.3% on Wednesday after an insider bought additional shares in the company. The stock traded as high as GBX 26.87 ($0.35) and last traded at GBX 26.66 ($0.35). Approximately 15,867,901 shares were traded during mid-day trading, an increase of 254% from the average daily volume of 4,480,000 shares. The stock had previously closed at GBX 22.72 ($0.30).

Specifically, insider Frank Meysman purchased 373,000 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was purchased at an average cost of GBX 22 ($0.29) per share, with a total value of £82,060 ($107,225.92).

TCG has been the subject of several research analyst reports. UBS Group raised shares of Thomas Cook Group to a “neutral” rating and decreased their price target for the company from GBX 85 ($1.11) to GBX 60 ($0.78) in a research note on Thursday, September 27th. Berenberg Bank downgraded shares of Thomas Cook Group to a “sell” rating and decreased their price target for the company from GBX 100 ($1.31) to GBX 65 ($0.85) in a research note on Monday, October 1st. Citigroup decreased their price target on shares of Thomas Cook Group from GBX 115 ($1.50) to GBX 66 ($0.86) and set a “neutral” rating for the company in a research note on Wednesday, September 26th. Shore Capital reaffirmed a “hold” rating on shares of Thomas Cook Group in a research note on Tuesday, November 27th. Finally, Barclays decreased their price target on shares of Thomas Cook Group from GBX 120 ($1.57) to GBX 46 ($0.60) and set an “equal weight” rating for the company in a research note on Wednesday, November 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 102.90 ($1.34).

Thomas Cook Group (LON:TCG) last issued its quarterly earnings data on Thursday, November 29th. The travel company reported GBX (0.30) ($0.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of GBX 7.10 ($0.09) by GBX (7.40) (($0.10)).

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About Thomas Cook Group (LON:TCG)

Thomas Cook Group plc provides leisure travel services in the United Kingdom, Continental Europe, Northern Europe, and Germany. The company operates through Group Tour Operator and Group Airline segments. It owns, manages, or franchises 190 own-brand hotels in 16 countries under the Casa Cook, Sunwing, Sunprime, Sunconnect, Sentido, Smartline, and Aldiana brands, as well as partner hotels.

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