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

MJ Gleeson plc (LON:GLE)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 291.45 and traded as low as GBX 270. MJ Gleeson shares last traded at GBX 270, with a volume of 20,524 shares.

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 on the stock in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 310.

MJ Gleeson Trading Up 1.3%

The company has a debt-to-equity ratio of 7.86, a quick ratio of 0.89 and a current ratio of 3.87. The company has a 50 day simple moving average of GBX 249.68 and a two-hundred day simple moving average of GBX 290.43. The company has a market cap of £161.59 million, a PE ratio of 11.29 and a beta of 0.61.

Insider Activity at MJ Gleeson

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

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.