Mitie Group (LON:MTO) Shares Down 9.8% - Time to Sell?

Mitie Group plc (LON:MTO - Get Free Report)'s stock price dropped 9.8% during trading on Thursday . The company traded as low as GBX 141.80 ($1.92) and last traded at GBX 144 ($1.95). Approximately 5,123,446 shares were traded during trading, an increase of 17% from the average daily volume of 4,390,673 shares. The stock had previously closed at GBX 159.60 ($2.16).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank raised their price target on shares of Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the stock a "buy" rating in a report on Wednesday, April 16th.

Mitie Group Trading Down 1.7%

The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The firm has a market capitalization of £1.72 billion, a PE ratio of 14.16, a P/E/G ratio of 10.10 and a beta of 1.41. The stock's 50-day simple moving average is GBX 139.87 and its 200-day simple moving average is GBX 122.35.

Mitie Group (LON:MTO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported GBX 12.70 ($0.17) EPS for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, sell-side analysts expect that Mitie Group plc will post 10.9360519 EPS for the current fiscal year.

Mitie Group announced that its Board of Directors has approved a share buyback plan on Wednesday, April 16th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Transactions at Mitie Group

In other Mitie Group news, insider Derek Mapp bought 8,571 shares of the stock in a transaction dated Tuesday, April 1st. The stock was purchased at an average cost of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,334.21). Insiders have acquired 8,797 shares of company stock valued at $1,015,714 in the last three months. 5.65% of the stock is currently owned by company insiders.

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.