MJ Gleeson (LON:GLE) Shares Cross Below 200-Day Moving Average – Here’s Why

MJ Gleeson plc (LON:GLE) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 392.69 and traded as low as GBX 372.61. MJ Gleeson shares last traded at GBX 377, with a volume of 146,301 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 500 price target on shares of MJ Gleeson in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 500.

MJ Gleeson Price Performance

The company has a quick ratio of 0.89, a current ratio of 5.79 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of £219.42 million, a price-to-earnings ratio of 13.87 and a beta of 1.14. The business’s 50 day simple moving average is GBX 362.45 and its 200-day simple moving average is GBX 392.69.

MJ Gleeson (LON:GLE) last issued its quarterly earnings results on Tuesday, September 16th. The company reported GBX 28.88 earnings per share for the quarter. MJ Gleeson had a net margin of 5.59% and a return on equity of 6.60%. On average, research analysts forecast that MJ Gleeson plc will post 35.1412429 earnings per share for the current year.

Insider Buying and Selling at MJ Gleeson

In other news, insider Stefan Allanson sold 658 shares of MJ Gleeson stock in a transaction on Friday, October 17th. The stock was sold at an average price of GBX 355, for a total value of £2,335.90. Also, insider Graham Prothero purchased 8,571 shares of the stock in a transaction dated Tuesday, September 16th. The shares were acquired at an average cost of GBX 350 per share, with a total value of £29,998.50. Insiders have acquired 8,906 shares of company stock valued at $3,118,881 over the last 90 days. Corporate insiders own 13.25% of the company’s stock.

MJ Gleeson Company Profile

MJ Gleeson plc comprises two divisions: Gleeson Homes and Gleeson Land.

Gleeson Homes is the leading low-cost, affordable housebuilder with the vision of “Building Homes. Changing Lives.” Focusing on areas where affordable housing is most needed in the Midlands and North of England, Gleeson Homes’ average selling price was £193,900, 34% lower than other housebuilders average selling price of £291,700 in the same geographic regions.