Mitie Group (LON:MTO) Shares Down 11.7% – Time to Sell?

Shares of Mitie Group plc (LON:MTO) were down 11.7% on Thursday . The company traded as low as GBX 139.40 ($1.89) and last traded at GBX 141 ($1.91). Approximately 6,042,185 shares changed hands during trading, an increase of 37% from the average daily volume of 4,399,260 shares. The stock had previously closed at GBX 159.60 ($2.16).

Analysts Set New Price Targets

Separately, Berenberg Bank upped their target price on Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the stock a “buy” rating in a report on Wednesday, April 16th.

Mitie Group Price Performance

The business has a fifty day simple moving average of GBX 140.27 and a two-hundred day simple moving average of GBX 122.50. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The stock has a market cap of £1.72 billion, a PE ratio of 14.16, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last posted its earnings results on Thursday, June 5th. The company reported GBX 12.70 ($0.17) earnings per share for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. Research analysts forecast that Mitie Group plc will post 10.9360519 earnings per share for the current year.

Mitie Group declared that its board has authorized a share repurchase program on Wednesday, April 16th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Derek Mapp purchased 8,571 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were bought at an average price of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,334.21). Insiders have purchased 8,797 shares of company stock worth $1,015,714 in the last 90 days. Insiders own 5.65% of the company’s stock.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.