MJ Gleeson (LON:GLE) Stock Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• The shares of MJ Gleeson plc dropped below their 200-day moving average, trading at GBX 340 ($4.59) compared to the average of GBX 435.90 ($5.89).
• Insider trading activity shows confidence in the company, with insiders acquiring a total of 15,575 shares worth $6,051,104 over the last 90 days.
• MJ Gleeson, through its Gleeson Homes division, focuses on affordable housing, with average selling prices 34% lower than other builders in the same regions.

MJ Gleeson plc (LON:GLE - Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 435.90 ($5.90) and traded as low as GBX 337.02 ($4.57). MJ Gleeson shares last traded at GBX 340 ($4.61), with a volume of 105,628 shares changing hands.

MJ Gleeson Stock Performance

The stock has a 50-day simple moving average of GBX 364.15 and a 200-day simple moving average of GBX 433.54. The company has a market capitalization of £194.98 million, a price-to-earnings ratio of 1,183.14 and a beta of 1.14. The company has a current ratio of 5.79, a quick ratio of 0.89 and a debt-to-equity ratio of 1.70.

Insider Transactions at MJ Gleeson

In related news, insider Graham Prothero acquired 7,692 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were acquired at an average price of GBX 390 per share, for a total transaction of £29,998.80. Also, insider Nicola Bruce bought 2,721 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were purchased at an average cost of GBX 370 per share, with a total value of £10,067.70. Over the last quarter, insiders acquired 15,575 shares of company stock valued at $6,051,104. 13.22% 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.