Insider Selling: Mullen Group (TSE:MTL) Insider Sells C$1,187,200.00 in Stock

Key Points

• Insider sale: Joanna Kathryn Scott sold 40,000 Mullen Group shares for C$1.19 million at an average price of C$29.68, reducing her ownership by 88.89% to 5,000 shares.
• Stock and earnings: Mullen Group shares rose 1.2% to C$29.86, while the company reported quarterly earnings of C$0.52 per share on C$653.17 million in revenue.
• Analyst outlook: Analysts raised several price targets, with a consensus rating of “Moderate Buy” and an average target price of C$30.22; targets ranged as high as C$35.00.

Mullen Group Ltd. (TSE:MTL - Get Free Report) insider Joanna Kathryn Scott sold 40,000 shares of Mullen Group stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of C$29.68, for a total value of C$1,187,200.00. Following the sale, the insider owned 5,000 shares in the company, valued at C$148,400. This represents a 88.89% decrease in their ownership of the stock.

Mullen Group Stock Up 1.2%

Shares of MTL traded up C$0.36 during trading on Thursday, reaching C$29.86. The company's stock had a trading volume of 280,329 shares, compared to its average volume of 308,360. The company has a market cap of C$2.86 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.81 and a beta of 0.83. The company has a quick ratio of 1.06, a current ratio of 2.18 and a debt-to-equity ratio of 86.15. The company has a fifty day moving average of C$26.77 and a two-hundred day moving average of C$22.00. Mullen Group Ltd. has a twelve month low of C$13.92 and a twelve month high of C$32.47.

Mullen Group (TSE:MTL - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The company reported C$0.52 earnings per share for the quarter. The business had revenue of C$653.17 million during the quarter. Mullen Group had a net margin of 5.25% and a return on equity of 10.58%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MTL shares. Desjardins boosted their target price on shares of Mullen Group from C$30.00 to C$31.00 and gave the stock a "buy" rating in a research report on Tuesday, October 20th. Scotia upped their target price on shares of Mullen Group from C$30.00 to C$33.00 and gave the company a "sector perform" rating in a research note on Friday, October 23rd. Royal Bank Of Canada increased their price target on shares of Mullen Group from C$32.00 to C$35.00 and gave the stock an "outperform" rating in a research report on Friday, October 23rd. Scotiabank lifted their price target on Mullen Group from C$29.00 to C$30.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 15th. Finally, Raymond James Financial boosted their price objective on Mullen Group from C$25.00 to C$31.00 and gave the company a "market perform" rating in a report on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Mullen Group has a consensus rating of "Moderate Buy" and a consensus target price of C$30.22.

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.

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