MJ Gleeson (LON:GLE) Share Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• MJ Gleeson shares fell below their 200-day moving average during trading, reaching a low of GBX 377 before closing at GBX 381.
• Berenberg Bank has maintained a "buy" rating on the stock with a price target of GBX 500, indicating positive sentiment among some analysts.
• Insider purchases have been noted, with significant shares acquired recently, suggesting a level of confidence from company insiders in the stock's future performance.

MJ Gleeson plc (LON:GLE - Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 418.34 ($5.63) and traded as low as GBX 377 ($5.07). MJ Gleeson shares last traded at GBX 381 ($5.12), with a volume of 146,654 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a "buy" rating and set a GBX 500 price target 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, the stock has an average rating of "Buy" and a consensus target price of GBX 500.

MJ Gleeson Price Performance

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 capitalization of £220.89 million, a P/E ratio of 1,340.38 and a beta of 1.14. The business's fifty day moving average price is GBX 354.09 and its 200-day moving average price is GBX 418.34.

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

Insiders Place Their Bets

In related news, insider Graham Prothero acquired 8,571 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was bought at an average cost of GBX 350 per share, with a total value of £29,998.50. Also, insider Nicola Bruce acquired 2,721 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were bought at an average cost of GBX 370 per share, with a total value of £10,067.70. Insiders have bought a total of 11,514 shares of company stock valued at $4,086,114 over the last ninety days. 13.22% of the stock is currently owned by 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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