Mitie Group (LON:MTO) Shares Down 11% - Should You Sell?

Shares of Mitie Group plc (LON:MTO - Get Free Report) traded down 11% during mid-day trading on Thursday . The stock traded as low as GBX 139.40 ($1.89) and last traded at GBX 142 ($1.92). 7,128,133 shares traded hands during trading, an increase of 62% from the average session volume of 4,409,409 shares. The stock had previously closed at GBX 159.60 ($2.16).

Wall Street Analyst Weigh In

Separately, Berenberg Bank lifted their target price on shares of Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.23) and gave the company a "buy" rating in a report on Wednesday, April 16th.

Mitie Group Stock Down 1.7%

The company's fifty day moving average price is GBX 140.27 and its 200-day moving average price is GBX 122.70. The stock has a market capitalization of £1.72 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41.

Mitie Group (LON:MTO - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported GBX 12.70 ($0.17) earnings per share (EPS) for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. Analysts forecast that Mitie Group plc will post 10.9360519 earnings per share for the current year.

Mitie Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 16th that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Mitie Group

In other news, insider Derek Mapp purchased 8,571 shares of Mitie Group stock in a transaction that occurred on Tuesday, April 1st. The stock was bought at an average price of GBX 115 ($1.56) per share, with a total value of £9,856.65 ($13,341.43). Insiders bought 8,797 shares of company stock valued at $1,015,714 over the last 90 days. Corporate insiders own 5.65% of the company's stock.

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.