MJ Gleeson (LON:GLE) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

MJ Gleeson plc (LON:GLE)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 577.59 ($7.31) and traded as low as GBX 515 ($6.52). MJ Gleeson shares last traded at GBX 516 ($6.53), with a volume of 25,330 shares changing hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 643 ($8.14) price objective on shares of MJ Gleeson in a research note on Wednesday, September 18th.

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 8.37. The business’s 50-day moving average is GBX 595.54 and its two-hundred day moving average is GBX 577.59. The company has a market capitalization of £301.24 million, a P/E ratio of 1,563.64 and a beta of 1.14.

MJ Gleeson Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of GBX 7 ($0.09) per share. This is a positive change from MJ Gleeson’s previous dividend of $4.00. This represents a dividend yield of 1.25%. The ex-dividend date is Thursday, October 24th. MJ Gleeson’s dividend payout ratio (DPR) is presently 3,333.33%.

Insider Buying and Selling

In related news, insider Christopher H. B. Mills sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of GBX 610 ($7.72), for a total transaction of £1,830,000 ($2,315,576.36). Also, insider Stefan Allanson sold 10,532 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of GBX 620 ($7.85), for a total transaction of £65,298.40 ($82,624.83). 16.85% of the stock is currently 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.