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

Key Points

• Mondi plc shares experienced a significant drop of 12.1%, trading as low as GBX 1,027.50 ($13.62), amidst a decline in trading volume by 18% from its average daily volume.
• Despite the drop, JPMorgan Chase & Co. upgraded their price target for Mondi from GBX 1,430 to GBX 1,460, maintaining an "overweight" rating.
• Insider transactions have occurred, with insiders purchasing shares at prices between GBX 1,152 ($15.27) and GBX 1,186 ($15.73), indicating confidence in the company's long-term prospects.

Mondi plc (LON:MNDI - Get Free Report) shares dropped 12.1% during mid-day trading on Thursday . The stock traded as low as GBX 1,027.50 ($13.62) and last traded at GBX 1,027.50 ($13.62). Approximately 4,917,192 shares were traded 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 ($15.49).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price objective on Mondi from GBX 1,430 ($18.96) to GBX 1,460 ($19.36) and gave the stock an "overweight" rating in a report on Friday, July 18th.

Mondi Stock Performance

The firm has a 50 day moving average price of GBX 1,192.27 and a 200-day moving average price of GBX 1,191.50. The stock has a market capitalization of £5.40 billion, a PE ratio of 13.97, 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 Activity at Mondi

In other Mondi news, insider Andrew King purchased 26 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of GBX 1,152 ($15.27) per share, for a total transaction of £299.52 ($397.14). Also, insider Mike Powell purchased 24 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average price of GBX 1,186 ($15.73) per share, for a total transaction of £284.64 ($377.41). In the last quarter, insiders purchased 100 shares of company stock worth $118,496. 1.36% of the stock is 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.

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