MJ Gleeson (LON:GLE) Shares Pass Below 200 Day Moving Average – Here’s Why

MJ Gleeson plc (LON:GLE)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 323.20 and traded as low as GBX 232. MJ Gleeson shares last traded at GBX 239, with a volume of 111,594 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reduced their target price on MJ Gleeson from GBX 345 to GBX 310 and set a “buy” rating on the stock in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 310.

MJ Gleeson Price Performance

The company has a quick ratio of 0.89, a current ratio of 3.87 and a debt-to-equity ratio of 7.86. The company has a market cap of £139.42 million, a PE ratio of 9.74 and a beta of 0.60. The stock has a 50-day simple moving average of GBX 247.89 and a 200 day simple moving average of GBX 323.20.

Insider Buying and Selling

In other MJ Gleeson news, insider Fiona Clare Goldsmith bought 3,000 shares of MJ Gleeson stock in a transaction on Thursday, May 7th. The shares were bought at an average price of GBX 244 per share, for a total transaction of £7,320. 13.26% of the stock is owned by corporate insiders.

About MJ Gleeson

MJ Gleeson plc comprises two divisions: Gleeson Homes and Gleeson Land.

Gleeson Homes, under the banner of “Building Homes. Changing Lives” builds high-quality affordable homes across the Midlands and North of England. To meet customer demand, and without compromising affordability, the range of homes available extends from one-bed apartments to five-bedroom houses. With a two-bedroom home available from £100,000, a key objective is to ensure that on all of our developments, a meaningful proportion of homes are affordable to a couple earning the National Living Wage.