Melcor Developments (TSE:MRD) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Melcor Developments Ltd. (TSE:MRD) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$14.46 and traded as high as C$15.19. Melcor Developments shares last traded at C$15.05, with a volume of 14,792 shares trading hands.

Melcor Developments Stock Performance

The company has a market capitalization of C$458.27 million, a PE ratio of 7.93 and a beta of 0.57. The stock’s fifty day simple moving average is C$14.86 and its 200-day simple moving average is C$14.47. The company has a debt-to-equity ratio of 53.41, a quick ratio of 2.65 and a current ratio of 18.08.

Melcor Developments (TSE:MRD) last announced its earnings results on Thursday, November 6th. The company reported C$0.46 earnings per share (EPS) for the quarter. The firm had revenue of C$72.54 million for the quarter. Melcor Developments had a net margin of 3.77% and a return on equity of 0.94%. As a group, equities analysts predict that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current year.

Melcor Developments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a $0.13 dividend. The ex-dividend date was Monday, September 15th. This is a positive change from Melcor Developments’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 3.4%. Melcor Developments’s payout ratio is presently 23.96%.

Insider Buying and Selling

In related news, Director Timothy Charles Melton purchased 3,200 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were bought at an average price of C$15.01 per share, with a total value of C$48,032.00. Following the completion of the purchase, the director directly owned 2,300,494 shares in the company, valued at approximately C$34,530,414.94. This trade represents a 0.14% increase in their position. Company insiders own 65.20% of the company’s stock.

About Melcor Developments

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.