MJ Gleeson (LON:GLE) Share Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• MJ Gleeson plc's shares have dipped below their 200-day moving average, trading at GBX 364 ($4.97) compared to the average of GBX 422.01 ($5.76).
• Berenberg Bank has set a new target price of GBX 500 and maintained a "buy" rating for MJ Gleeson shares, suggesting positive analyst sentiment.
• Insider activity shows confidence in the company, with insiders purchasing a total of 2,943 shares worth approximately $1.08 million over the last ninety days.

MJ Gleeson plc (LON:GLE - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 422.01 ($5.69) and traded as low as GBX 345.35 ($4.65). MJ Gleeson shares last traded at GBX 364 ($4.90), with a volume of 370,533 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 500 target price on shares of MJ Gleeson in a report on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 500.

MJ Gleeson Stock Down 1.3%

The company's 50-day simple moving average is GBX 353.17 and its 200 day simple moving average is GBX 420.43. The firm has a market cap of £221.83 million, a P/E ratio of 1,346.09 and a beta of 1.14. The company has a debt-to-equity ratio of 1.70, a current ratio of 5.79 and a quick ratio of 0.89.

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

Insider Activity

In other MJ Gleeson news, insider Nicola Bruce purchased 2,721 shares of MJ Gleeson stock in a transaction dated Wednesday, July 9th. The stock was acquired at an average price of GBX 370 per share, for a total transaction of £10,067.70. Also, insider Graham Prothero purchased 8,571 shares of MJ Gleeson stock in a transaction dated Tuesday, September 16th. The stock was acquired at an average price of GBX 350 per share, with a total value of £29,998.50. In the last 90 days, insiders bought 11,514 shares of company stock valued at $4,086,114. Company 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.