Mondi (LON:MNDI) Stock Price Down 12.1% - Here's Why

Key Points

• Mondi plc's share price fell by 12.1%, trading at GBX 1,027.50 ($13.62), with a notable decline in trading volume.
• Analysts at JPMorgan Chase & Co. increased their target price for Mondi's shares from GBX 1,430 to GBX 1,460, maintaining an "overweight" rating.
• Insiders have recently bought a total of 100 shares of Mondi worth nearly $118,496, indicating potential confidence from company executives.

Mondi plc (LON:MNDI - Get Free Report)'s stock price was down 12.1% during mid-day trading on Thursday . The company traded as low as GBX 1,027.50 ($13.64) and last traded at GBX 1,027.50 ($13.64). Approximately 4,917,192 shares traded hands during trading, a decline of 18% from the average daily volume of 6,007,496 shares. The stock had previously closed at GBX 1,168.50 ($15.51).

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MNDI shares. JPMorgan Chase & Co. boosted their price objective on Mondi from GBX 1,430 ($18.98) to GBX 1,460 ($19.38) and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup reduced their price objective on Mondi from GBX 1,650 ($21.90) to GBX 1,550 ($20.57) and set a "buy" rating for the company in a report on Friday.

Mondi Trading Up 1.1%

The business's 50 day simple moving average is GBX 1,185.44 and its two-hundred day simple moving average is GBX 1,189.87. The stock has a market cap of £5.46 billion, a P/E ratio of 14.12, a PEG ratio of 0.76 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 2.06 and a debt-to-equity ratio of 41.00.

Insider Buying and Selling at Mondi

In other news, insider Andrew King purchased 24 shares of the business's stock in a transaction on Monday, July 7th. The shares were acquired at an average price of GBX 1,186 ($15.74) per share, with a total value of £284.64 ($377.81). Also, insider Mike Powell purchased 24 shares of the business's stock in a transaction on Monday, July 7th. The shares were purchased at an average cost of GBX 1,186 ($15.74) per share, for a total transaction of £284.64 ($377.81). In the last three months, insiders purchased 100 shares of company stock worth $118,496. 1.36% of the stock is currently owned by insiders.

Mondi Company Profile

Mondi plc, together with its subsidiaries, engages in the manufacture and sale of packaging and paper solutions in Africa, Western Europe, Emerging Europe, North America, South America, Asia, Australia, and internationally. The company operates in three segments: Corrugated Packaging, Flexible Packaging, and Uncoated Fine Paper.