Phillip Bentley Acquires 108 Shares of Mitie Group (LON:MTO) Stock

Key Points

• Phillip Bentley, an insider at Mitie Group, acquired 108 shares at an average cost of GBX 138 per share on October 13th, following a significant sale of 2 million shares earlier in September.
• Mitie Group initiated a stock repurchase program on October 14th, indicating the board believes the stock may be undervalued.
• Wall Street analysts have issued a consensus rating of "Moderate Buy" for Mitie Group, with target prices ranging from GBX 145 to GBX 175.

Mitie Group plc (LON:MTO - Get Free Report) insider Phillip Bentley acquired 108 shares of Mitie Group stock in a transaction on Monday, October 13th. The shares were purchased at an average cost of GBX 138 per share, with a total value of £149.04.

Phillip Bentley also recently made the following trade(s):

• On Monday, September 22nd, Phillip Bentley sold 2,000,032 shares of Mitie Group stock. The shares were sold at an average price of GBX 138, for a total value of £2,760,044.16.
• On Monday, September 15th, Phillip Bentley acquired 103 shares of Mitie Group stock. The shares were purchased at an average cost of GBX 146 per share, with a total value of £150.38.
• On Wednesday, August 13th, Phillip Bentley bought 102 shares of Mitie Group stock. The shares were bought at an average price of GBX 148 per share, for a total transaction of £150.96.

Mitie Group Stock Performance

Shares of LON:MTO traded down GBX 2.60 during trading on Wednesday, hitting GBX 156. 5,491,458 shares of the company were exchanged, compared to its average volume of 4,808,020. The company has a market cap of £2.02 billion, a PE ratio of 2,052.63, a P/E/G ratio of 10.10 and a beta of 1.41. The stock has a 50 day moving average of GBX 141.82 and a 200 day moving average of GBX 140.58. Mitie Group plc has a 52-week low of GBX 101 and a 52-week high of GBX 160. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83.

Mitie Group announced that its board has initiated a stock repurchase program on Tuesday, October 14th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MTO. Jefferies Financial Group restated a "hold" rating and set a GBX 145 target price on shares of Mitie Group in a research report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft boosted their target price on Mitie Group from GBX 165 to GBX 170 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, Berenberg Bank restated a "buy" rating and set a GBX 175 target price on shares of Mitie Group in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 163.33.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.

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