MJ Gleeson (LON:GLE) Stock Passes Below 200 Day Moving Average – Here’s Why

MJ Gleeson plc (LON:GLE)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 572.28 ($7.19) and traded as low as GBX 510 ($6.41). MJ Gleeson shares last traded at GBX 510 ($6.41), with a volume of 55,175 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 643 ($8.08) target price on shares of MJ Gleeson in a research note on Wednesday, September 18th.

MJ Gleeson Stock Up 0.4 %

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 stock has a market cap of £298.91 million, a PE ratio of 1,551.52 and a beta of 1.14. The firm has a fifty day moving average of GBX 552.80 and a 200 day moving average of GBX 571.94.

Insider Buying and Selling at MJ Gleeson

In other news, insider Christopher H. B. Mills sold 300,000 shares of MJ Gleeson stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of GBX 610 ($7.67), for a total transaction of £1,830,000 ($2,299,861.76). Also, insider Stefan Allanson sold 10,532 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of GBX 620 ($7.79), for a total value of £65,298.40 ($82,064.09). 16.85% of the stock is currently owned by 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.