MJ Gleeson (LON:GLE) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of MJ Gleeson plc (LON:GLE) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 559.18 ($7.32) and traded as high as GBX 620 ($8.11). MJ Gleeson shares last traded at GBX 620 ($8.11), with a volume of 42,896 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 643 ($8.42) price target on shares of MJ Gleeson in a report on Wednesday, September 18th.

MJ Gleeson Trading Up 1.6 %

The company has a market capitalization of £361.96 million, a PE ratio of 1,878.79 and a beta of 1.14. The company has a current ratio of 5.79, a quick ratio of 0.89 and a debt-to-equity ratio of 8.37. The company has a fifty day simple moving average of GBX 598.78 and a 200-day simple moving average of GBX 559.18.

MJ Gleeson Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a GBX 7 ($0.09) dividend. This is an increase from MJ Gleeson’s previous dividend of $4.00. The ex-dividend date of this dividend is Thursday, October 24th. This represents a dividend yield of 1.25%. MJ Gleeson’s payout ratio is 3,333.33%.

Insider Activity at MJ Gleeson

In related news, insider Christopher H. B. Mills sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of GBX 600 ($7.85), for a total transaction of £1,200,000 ($1,570,475.07). In other MJ Gleeson news, insider Christopher H. B. Mills sold 300,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of GBX 610 ($7.98), for a total value of £1,830,000 ($2,394,974.48). Also, insider Christopher H. B. Mills sold 200,000 shares of MJ Gleeson stock in a transaction on Friday, July 19th. The shares were sold at an average price of GBX 600 ($7.85), for a total value of £1,200,000 ($1,570,475.07). 16.85% of the stock is owned by corporate insiders.

About MJ Gleeson

MJ Gleeson plc engages in low-cost house building and land promotion activities in the United Kingdom. The company operates through two divisions, Gleeson Homes and Gleeson Land. It also engages in the house building activities in the north of England and Midlands; and sale of land in the south of England.