MJ Gleeson (LON:GLE) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

MJ Gleeson plc (LON:GLE)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 310.51 and traded as low as GBX 247.38. MJ Gleeson shares last traded at GBX 249, with a volume of 93,896 shares trading hands.

Wall Street Analysts Forecast Growth

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

MJ Gleeson Stock Up 0.8%

The company has a 50 day simple moving average of GBX 241.31 and a two-hundred day simple moving average of GBX 310.51. 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 capitalization of £145.26 million, a P/E ratio of 10.15 and a beta of 0.60.

Insider Activity

In related news, insider Fiona Clare Goldsmith bought 3,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was purchased at an average price of GBX 244 per share, for a total transaction of £7,320. 13.26% of the stock is owned by insiders.

MJ Gleeson Company Profile

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.