Mitie Group (LON:MTO) Shares Down 13.2% - Should You Sell?

Mitie Group plc (LON:MTO - Get Free Report)'s share price traded down 13.2% on Thursday . The company 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 ($2.16).

Wall Street Analyst Weigh In

Separately, Berenberg Bank upped their price objective on shares of 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 business's 50 day simple moving average is GBX 140.81 and its two-hundred day simple moving average is GBX 122.94. The firm has a market capitalization of £1.81 billion, a PE ratio of 14.92, a price-to-earnings-growth 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.

Mitie Group (LON:MTO - Get Free Report) last released its quarterly 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 return on equity of 28.24% and a net margin of 2.52%. Research analysts expect that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 16th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Derek Mapp acquired 8,571 shares of the firm's 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, for a total transaction of £9,856.65 ($13,357.70). Also, insider Christopher Rogers bought 144,000 shares of the firm's stock in a transaction on Friday, June 6th. The shares were purchased at an average cost of GBX 137 ($1.86) per share, with a total value of £197,280 ($267,353.30). Over the last three months, insiders have bought 152,797 shares of company stock worth $20,743,714. 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.