Focusrite (LON:TUNE) Stock Rating Reaffirmed by Berenberg Bank

Berenberg Bank restated their buy rating on shares of Focusrite (LON:TUNE) in a report issued on Wednesday, Marketbeat.com reports. Berenberg Bank currently has a GBX 410 ($5.15) price objective on the stock.

Focusrite Stock Performance

Shares of TUNE stock opened at GBX 365 ($4.58) on Wednesday. The stock has a market cap of £213.85 million, a PE ratio of 1,825.00, a price-to-earnings-growth ratio of 2.95 and a beta of 1.07. The stock has a 50-day moving average of GBX 355.66 and a 200-day moving average of GBX 448.70. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.53 and a quick ratio of 0.77. Focusrite has a one year low of GBX 245 ($3.08) and a one year high of GBX 610 ($7.66).

Focusrite Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 9th will be given a dividend of GBX 2.10 ($0.03) per share. The ex-dividend date is Thursday, May 9th. This represents a dividend yield of 0.57%. Focusrite’s dividend payout ratio is 3,500.00%.

Insider Buying and Selling at Focusrite

In other Focusrite news, insider Timothy Paul Carrol purchased 3,386 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were bought at an average price of GBX 295 ($3.71) per share, with a total value of £9,988.70 ($12,547.04). In related news, insider Timothy Paul Carrol acquired 3,386 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average cost of GBX 295 ($3.71) per share, for a total transaction of £9,988.70 ($12,547.04). Also, insider Sally McKone purchased 6,900 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was purchased at an average cost of GBX 292 ($3.67) per share, for a total transaction of £20,148 ($25,308.38). Insiders own 37.01% of the company’s stock.

About Focusrite

Focusrite plc develops and markets hardware and software products primarily for audio professionals and amateur musicians in North America, Europe, the Middle East, Africa, and internationally. It operates through Focusrite, Novation, ADAM Audio, Martin Audio, Sonnox, and Sequential segments. The company provides audio interface and other products for musicians under the Focusrite and Focusrite Pro brands; and products that are used in the creation of electronic music using synthesizers, grooveboxes, keyboard and pad controllers, MIDI controllers, and software and apps under the Novation and Ampify brands.