Mitie Group (LON:MTO) Trading Down 12.5% – Here’s Why

Mitie Group plc (LON:MTO)’s stock price traded down 12.5% during trading on Thursday . The stock traded as low as GBX 137.83 ($1.86) and last traded at GBX 139.60 ($1.89). 14,954,736 shares changed hands during trading, an increase of 234% from the average session volume of 4,482,020 shares. The stock had previously closed at GBX 159.60 ($2.16).

Analyst Ratings Changes

Separately, Berenberg Bank boosted 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 Stock Performance

The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The stock has a market cap of £1.72 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company’s 50-day simple moving average is GBX 140.27 and its 200-day simple moving average is GBX 122.50.

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

Mitie Group declared that its Board of Directors has approved a share buyback plan on Wednesday, April 16th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Mitie Group

In other news, insider Derek Mapp purchased 8,571 shares of Mitie Group stock in a transaction dated Tuesday, April 1st. The stock was acquired at an average cost of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,334.21). In the last quarter, insiders have purchased 8,797 shares of company stock worth $1,015,714. 5.65% of the stock is currently owned by company insiders.

About Mitie Group

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.