MJ Gleeson (LON:GLE) Shares Cross Below 200-Day Moving Average – Should You Sell?

MJ Gleeson plc (LON:GLE) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 304.54 and traded as low as GBX 214.09. MJ Gleeson shares last traded at GBX 245.50, with a volume of 289,938 shares traded.

Wall Street Analyst Weigh In

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

MJ Gleeson Price Performance

The firm has a market capitalization of £143.21 million, a P/E ratio of 10.01 and a beta of 0.61. The business’s fifty day moving average is GBX 241.53 and its 200 day moving average is GBX 304.54. The company has a current ratio of 3.87, a quick ratio of 0.89 and a debt-to-equity ratio of 7.86.

Insider Transactions at MJ Gleeson

In related news, insider Fiona Clare Goldsmith purchased 3,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were bought at an average price of GBX 244 per share, with a total value of £7,320. Company insiders own 13.26% of the company’s stock.

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.