Mondi (LON:MNDI) Trading Down 12.1% - Time to Sell?

Key Points

• Mondi plc shares fell by 12.1%, trading at GBX 1,027.50 ($13.57), significantly lower than its previous close of GBX 1,168.50 ($15.44).
• Despite the drop, JPMorgan Chase & Co. raised their price target for Mondi from GBX 1,430 to GBX 1,460, maintaining an "overweight" rating for the stock.
• Recent insider purchases, including two transactions for 24 shares at an average price of GBX 1,186 ($15.67), indicate confidence from company insiders amidst the share price decline.

Shares of Mondi plc (LON:MNDI - Get Free Report) dropped 12.1% during mid-day trading on Thursday . The stock 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 changed hands during mid-day 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).

Analysts Set New Price Targets

MNDI has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Mondi from GBX 1,430 ($18.98) to GBX 1,460 ($19.38) and gave the stock an "overweight" rating in a research note on Friday, July 18th. Citigroup decreased their target price on Mondi from GBX 1,650 ($21.90) to GBX 1,550 ($20.57) and set a "buy" rating for the company in a research report on Friday.

Mondi Trading Up 1.1%

The company has a market capitalization 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 debt-to-equity ratio of 41.00, a quick ratio of 1.14 and a current ratio of 2.06. The stock has a fifty day moving average of GBX 1,185.44 and a 200 day moving average of GBX 1,189.82.

Insider Buying and Selling

In other news, insider Andrew King purchased 26 shares of the stock in a transaction on Friday, May 9th. The shares were acquired at an average price of GBX 1,152 ($15.29) per share, with a total value of £299.52 ($397.56). Also, insider Mike Powell acquired 24 shares of the company's stock in a transaction dated Monday, July 7th. The stock was acquired at an average cost of GBX 1,186 ($15.74) per share, with a total value of £284.64 ($377.81). Over the last quarter, insiders have purchased 100 shares of company stock valued at $118,496. 1.36% of the stock is currently owned by corporate insiders.

About Mondi

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.