Mitie Group (LON:MTO) Stock Price Down 13.2% - Here's What Happened

Shares of Mitie Group plc (LON:MTO - Get Free Report) traded down 13.2% on Thursday . The stock traded as low as GBX 137.83 ($1.87) and last traded at GBX 138.60 ($1.88). 14,960,798 shares traded hands during trading, an increase of 234% from the average session volume of 4,482,611 shares. The stock had previously closed at GBX 159.60 ($2.17).

Wall Street Analyst Weigh In

Separately, Berenberg Bank lifted their price objective on Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.24) and gave the stock a "buy" rating in a report on Wednesday, April 16th.

Mitie Group Stock Performance

The company has a market capitalization of £1.72 billion, a P/E ratio of 14.13, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The company's fifty day moving average is GBX 139.87 and its 200 day moving average is GBX 122.35.

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

Mitie Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 16th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Mitie Group

In other news, insider Derek Mapp purchased 8,571 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were purchased at an average price of GBX 115 ($1.56) per share, with a total value of £9,856.65 ($13,384.91). Insiders purchased 8,797 shares of company stock valued at $1,015,714 in the last quarter. 5.65% of the stock is currently owned by corporate insiders.

Mitie Group Company Profile

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.

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