MJ Gleeson (LON:GLE) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• MJ Gleeson's share price fell below its 200-day moving average of GBX 411.19, trading as low as GBX 351.50, which shows a negative trend in recent performance.
• Berenberg Bank has reaffirmed a "buy" rating for MJ Gleeson, maintaining a target price of GBX 500, with a consensus rating remaining positive amongst analysts.
• Insiders are actively buying shares, with transactions totaling 8,735 shares valued at approximately $3 million over the past 90 days, indicating confidence in the company's future.

MJ Gleeson plc (LON:GLE - Get Free Report)'s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 411.19 ($5.49) and traded as low as GBX 351.50 ($4.69). MJ Gleeson shares last traded at GBX 353 ($4.71), with a volume of 230,171 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a "buy" rating and set a GBX 500 target price on shares of MJ Gleeson in a research report on Wednesday, September 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, MJ Gleeson currently has a consensus rating of "Buy" and an average target price of GBX 500.

MJ Gleeson Trading Down 2.5%

The firm has a 50-day moving average of GBX 356.52 and a 200 day moving average of GBX 411.19. The company has a current ratio of 5.79, a quick ratio of 0.89 and a debt-to-equity ratio of 1.70. The company has a market cap of £206.07 million, a P/E ratio of 1,302.10 and a beta of 1.14.

MJ Gleeson (LON:GLE - Get Free Report) last posted its quarterly earnings results on Tuesday, September 16th. The company reported GBX 28.88 earnings per share for the quarter. MJ Gleeson had a return on equity of 6.60% and a net margin of 5.59%. On average, analysts predict that MJ Gleeson plc will post 35.1412429 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Graham Prothero purchased 8,571 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were acquired at an average cost of GBX 350 per share, with a total value of £29,998.50. Over the last 90 days, insiders purchased 8,735 shares of company stock worth $3,059,202. 13.23% of the stock is currently owned by corporate insiders.

About MJ Gleeson

MJ Gleeson plc comprises two divisions: Gleeson Homes and Gleeson Land. Gleeson Homes is the leading low-cost, affordable housebuilder with the vision of "Building Homes. Changing Lives." Focusing on areas where affordable housing is most needed in the Midlands and North of England, Gleeson Homes' average selling price was £193,900, 34% lower than other housebuilders average selling price of £291,700 in the same geographic regions.

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