Insider Buying: Mitie Group (LON:MTO) Insider Purchases 102 Shares of Stock

Key Points

• Insider Phillip Bentley purchased 102 shares of Mitie Group plc for £150.96 ($205.00) on August 13, raising his total acquisitions in recent months, which also included purchases of 107 and 104 shares in July and June respectively.
• The stock has experienced a price increase recently, trading at GBX 148 ($2.01), with analysts boosting their price targets for Mitie Group from GBX 165 ($2.24) to as high as GBX 175 ($2.38), indicating a positive outlook.
• Mitie Group has approved a stock buyback plan, signaling confidence from the leadership that the company's shares are undervalued; this follows their quarterly earnings report showing an EPS of GBX 12.70 ($0.17) and a net margin of 2.52%.

Mitie Group plc (LON:MTO - Get Free Report) insider Phillip Bentley bought 102 shares of the stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of GBX 148 per share, with a total value of £150.96.

Phillip Bentley also recently made the following trade(s):

• On Monday, July 14th, Phillip Bentley bought 107 shares of Mitie Group stock. The stock was acquired at an average price of GBX 139 per share, for a total transaction of £148.73.
• On Friday, June 13th, Phillip Bentley purchased 104 shares of Mitie Group stock. The shares were purchased at an average cost of GBX 144 per share, for a total transaction of £149.76.

Mitie Group Stock Down 0.3%

MTO stock traded down GBX 0.40 during trading on Tuesday, reaching GBX 145. 1,650,310 shares of the company traded hands, compared to its average volume of 4,446,466. Mitie Group plc has a 12 month low of GBX 101 and a 12 month high of GBX 160. The business has a 50 day simple moving average of GBX 141.68 and a 200 day simple moving average of GBX 133.79. The company has a market capitalization of £1.83 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90.

Mitie Group (LON:MTO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported GBX 12.70 earnings per share for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. On average, equities research analysts anticipate that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MTO shares. Berenberg Bank boosted their price objective on Mitie Group from GBX 165 to GBX 175 and gave the company a "buy" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Mitie Group from GBX 165 to GBX 170 and gave the stock a "buy" rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of GBX 172.50.

About Mitie Group

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.