Bellway (LON:BWY) Stock: Insider Jason Honeyman Sells 6,158 Shares

Key Points

• Insider transaction: Bellway director Jason Honeyman sold 6,158 shares at GBX 2,218 each, worth approximately £136,584, shortly after buying 5,658 shares for about £122,439.
• Stock performance: Bellway shares rose to GBX 2,200, with a £2.45 billion market capitalization, trading above both their 50-day and 200-day moving averages.
• Analyst outlook: Six analysts rate Bellway a Buy and three rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of GBX 2,527.89.

Bellway p.l.c. (LON:BWY - Get Free Report) insider Jason Honeyman sold 6,158 shares of the business's stock in a transaction dated Monday, October 26th. The shares were sold at an average price of GBX 2,218, for a total transaction of £136,584.44.

Jason Honeyman also recently made the following trade(s):

• On Friday, October 23rd, Jason Honeyman bought 5,658 shares of Bellway stock. The stock was purchased at an average price of GBX 2,164 per share, for a total transaction of £122,439.12.

Bellway Stock Performance

BWY traded up GBX 12 on Monday, hitting GBX 2,200. The company had a trading volume of 3,161,371 shares, compared to its average volume of 3,926,299. The stock has a fifty day moving average price of GBX 2,092.51 and a 200-day moving average price of GBX 1,992.07. The stock has a market capitalization of £2.45 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 3.40 and a beta of 1.37. Bellway p.l.c. has a 12-month low of GBX 1,715 and a 12-month high of GBX 2,890.

Bellway (LON:BWY - Get Free Report) last released its earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share for the quarter. Bellway had a net margin of 6.12% and a return on equity of 5.49%. Analysts forecast that Bellway p.l.c. will post 159.07 EPS for the current fiscal year.

Bellway announced that its board has initiated a share repurchase plan on Tuesday, September 1st that permits the company to buy back 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BWY. Citigroup increased their price target on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 2,380 target price on shares of Bellway in a research note on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 2,917 price objective on shares of Bellway in a research report on Wednesday, August 12th. Finally, Berenberg Bank lowered their price target on Bellway from GBX 2,550 to GBX 2,450 and set a "buy" rating on the stock in a research report on Wednesday, October 14th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,527.89.

About Bellway

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.

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