Persimmon (OTCMKTS:PSMMY) Shares Gap Down - Here's Why

Persimmon Plc (OTCMKTS:PSMMY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $37.51, but opened at $36.04. Persimmon shares last traded at $36.04, with a volume of 2,595 shares changing hands.

Analysts Set New Price Targets

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

Persimmon Price Performance

The stock has a 50-day moving average of $36.09 and a 200 day moving average of $32.39.

Persimmon Increases Dividend

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

About Persimmon

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.