Mitie Group (LON:MTO) Shares Down 13.2% - Time to Sell?

Mitie Group plc (LON:MTO - Get Free Report) shares traded down 13.2% on Thursday . The stock traded as low as GBX 137.83 ($1.86) and last traded at GBX 138.60 ($1.88). 14,960,798 shares were traded during mid-day 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).

Analyst Upgrades and Downgrades

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

Mitie Group Stock Down 1.7%

The company's 50 day moving average price is GBX 140.27 and its 200 day moving average price is GBX 122.50. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The firm has a market capitalization of £1.72 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO - Get Free Report) last posted 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, research analysts forecast that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group announced that its board has approved a stock buyback program on Wednesday, April 16th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign 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 firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was bought at an average cost of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,334.21). Over the last ninety days, insiders purchased 8,797 shares of company stock worth $1,015,714. Company 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.