MJ Gleeson (LON:GLE) Share Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• The share price of MJ Gleeson plc has fallen below its two hundred day moving average of GBX 415.23, now trading at GBX 382 ($5.14).
• Berenberg Bank has maintained a "buy" rating for MJ Gleeson, with a target price set at GBX 500, indicating positive sentiment from analysts.
• Insiders have recently purchased a total of 11,514 shares of MJ Gleeson stock, reflecting confidence in the company's future performance.

MJ Gleeson plc (LON:GLE - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 415.23 ($5.58) and traded as low as GBX 376 ($5.05). MJ Gleeson shares last traded at GBX 382 ($5.14), with a volume of 46,893 shares trading hands.

Analyst Ratings Changes

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

MJ Gleeson Trading Down 0.3%

The company has a 50 day moving average of GBX 356.20 and a 200 day moving average of GBX 415.23. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.89 and a current ratio of 5.79. The stock has a market capitalization of £222.41 million, a price-to-earnings ratio of 1,349.63 and a beta of 1.14.

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

Insiders Place Their Bets

In other MJ Gleeson news, insider Graham Prothero acquired 8,571 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were purchased at an average cost of GBX 350 per share, for a total transaction of £29,998.50. Also, insider Nicola Bruce acquired 2,721 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was acquired at an average price of GBX 370 per share, for a total transaction of £10,067.70. Insiders acquired a total of 11,514 shares of company stock valued at $4,086,114 over the last ninety days. Corporate insiders own 13.22% of the company's stock.

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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