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

Shares of Mitie Group plc (LON:MTO - Get Free Report) fell 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 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 ($2.17).

Analyst Ratings Changes

Separately, Berenberg Bank raised their target price on shares of Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.24) and gave the company a "buy" rating in a research note on Wednesday, April 16th.

Mitie Group Price Performance

The company 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. The firm's 50-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 issued 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%. Equities analysts predict 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 stock buyback program on Wednesday, April 16th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Mitie Group

In other Mitie Group news, insider Derek Mapp purchased 8,571 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was acquired at an average cost of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,384.91). Insiders have acquired 8,797 shares of company stock worth $1,015,714 over the last ninety days. Insiders own 5.65% of the company's stock.

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.