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

Key Points

• MJ Gleeson plc saw its share price fall below its 200-day moving average of GBX 430.17, trading as low as GBX 326, raising concerns for investors.
• Insider activity includes acquisitions from Fiona Clare Goldsmith and Nicola Bruce, who bought a combined total of 7,883 shares in the last 90 days, showing potential confidence in the company's future.
• The company's P/E ratio stands at an unusually high 1,176.05, indicating potential overvaluation compared to its industry peers.

Shares of MJ Gleeson plc (LON:GLE - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 430.17 ($5.84) and traded as low as GBX 326 ($4.43). MJ Gleeson shares last traded at GBX 332 ($4.51), with a volume of 527,681 shares.

Analyst Ratings Changes

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

MJ Gleeson Stock Up 0.9%

The business has a fifty day moving average of GBX 354.61 and a 200 day moving average of GBX 425.41. The firm has a market cap of £188.55 million, a P/E ratio of 1,144.17 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 5.79 and a debt-to-equity ratio of 1.70.

Insider Transactions at MJ Gleeson

In other MJ Gleeson news, insider Nicola Bruce bought 2,721 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was purchased at an average cost of GBX 370 per share, with a total value of £10,067.70. Insiders bought 2,943 shares of company stock valued at $1,086,264 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.