MJ Gleeson (LON:GLE) Stock Price Passes Below 200 Day Moving Average After Insider Selling

Key Points

• MJ Gleeson plc shares have fallen below their 200-day moving average of GBX 405.71 to GBX 369 ($4.95) following an insider sale of 658 shares by Stefan Allanson at an average price of GBX 355.
• Berenberg Bank has reaffirmed a "buy" rating for MJ Gleeson, with an average target price set at GBX 500, indicating positive analyst sentiment around the stock.
• The company reported earnings of GBX 28.88 per share in its latest quarter, with expectations of a total of approximately 35.14 earnings per share for the current year, showcasing stable financial performance.

Shares of MJ Gleeson plc (LON:GLE - Get Free Report) passed below its 200-day moving average during trading on Monday after an insider sold shares in the company. The stock has a 200-day moving average of GBX 405.71 ($5.44) and traded as low as GBX 350 ($4.69). MJ Gleeson shares last traded at GBX 369 ($4.95), with a volume of 84,537 shares trading hands.

Specifically, insider Stefan Allanson sold 658 shares of MJ Gleeson stock in a transaction on Friday, October 17th. The shares were sold at an average price of GBX 355, for a total value of £2,335.90.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 500 price objective on shares of MJ Gleeson in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, MJ Gleeson currently has a consensus rating of "Buy" and an average target price of GBX 500.

MJ Gleeson Trading Up 2.8%

The stock has a market cap of £215.41 million, a P/E ratio of 13.61 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. The stock's fifty day moving average price is GBX 357 and its 200 day moving average price is GBX 405.71.

MJ Gleeson (LON:GLE - Get Free Report) last announced its 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%. Equities research analysts expect that MJ Gleeson plc will post 35.1412429 earnings per share for the current year.

MJ Gleeson Company Profile

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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