MJ Gleeson (LON:GLE) Stock Price Down 0.8% – Time to Sell?

MJ Gleeson plc (LON:GLE) traded down 0.8% during mid-day trading on Thursday . The stock traded as low as GBX 515 ($6.50) and last traded at GBX 520 ($6.56). 62,326 shares changed hands during trading, a decline of 13% from the average session volume of 71,376 shares. The stock had previously closed at GBX 524 ($6.61).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 643 ($8.12) price objective on shares of MJ Gleeson in a research note on Wednesday, September 18th.

MJ Gleeson Stock Performance

The company’s 50 day simple moving average is GBX 563.02 and its two-hundred day simple moving average is GBX 573.84. The company has a market capitalization of £303.58 million, a price-to-earnings ratio of 1,575.76 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 5.79 and a debt-to-equity ratio of 8.37.

MJ Gleeson Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th were issued a dividend of GBX 7 ($0.09) per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a dividend yield of 1.25%. This is an increase from MJ Gleeson’s previous dividend of $4.00. MJ Gleeson’s dividend payout ratio is 3,333.33%.

Insiders Place Their Bets

In other MJ Gleeson news, insider Christopher H. B. Mills sold 300,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of GBX 610 ($7.70), for a total transaction of £1,830,000 ($2,309,731.16). Also, insider Stefan Allanson sold 10,532 shares of MJ Gleeson stock in a transaction on Thursday, October 17th. The shares were sold at an average price of GBX 620 ($7.83), for a total transaction of £65,298.40 ($82,416.26). 16.85% of the stock is owned by insiders.

MJ Gleeson Company Profile

MJ Gleeson plc engages in low-cost house building and land promotion activities in the United Kingdom. The company operates through two divisions, Gleeson Homes and Gleeson Land. It also engages in the house building activities in the north of England and Midlands; and sale of land in the south of England.