Persimmon (OTCMKTS:PSMMY) Shares Gap Down - Should You Sell?

Persimmon Plc (OTCMKTS:PSMMY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $33.89, but opened at $31.62. Persimmon shares last traded at $31.62, with a volume of 264 shares traded.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reissued an "overweight" rating on shares of Persimmon in a research report on Tuesday, May 6th.

Persimmon Stock Down 2.3%

The stock's fifty day simple moving average is $36.09 and its 200-day simple moving average is $32.44.

Persimmon Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, July 28th. Investors of record on Monday, June 23rd will be issued a $0.9997 dividend. This represents a dividend yield of 3.94%. The ex-dividend date is Friday, June 20th. This is a boost from Persimmon's previous dividend of $0.48.

Persimmon Company Profile

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.