MJ Gleeson (LON:GLE) Given Buy Rating at Berenberg Bank

Berenberg Bank reissued their buy rating on shares of MJ Gleeson (LON:GLE) in a research report released on Wednesday, Digital Look reports. The brokerage currently has a GBX 643 ($8.49) price objective on the stock.

MJ Gleeson Stock Performance

Shares of GLE stock traded up GBX 16.32 ($0.22) during mid-day trading on Wednesday, reaching GBX 593.32 ($7.84). The stock had a trading volume of 61,217 shares, compared to its average volume of 62,580. The firm’s 50 day simple moving average is GBX 588.74 and its 200 day simple moving average is GBX 546.99. The company has a quick ratio of 0.89, a current ratio of 4.61 and a debt-to-equity ratio of 8.37. MJ Gleeson has a one year low of GBX 381 ($5.03) and a one year high of GBX 630 ($8.32). The firm has a market cap of £346.38 million, a PE ratio of 2,045.93 and a beta of 1.14.

MJ Gleeson Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a dividend of GBX 7 ($0.09) per share. The ex-dividend date is Thursday, October 24th. This is a boost from MJ Gleeson’s previous dividend of $4.00. This represents a dividend yield of 1.25%. MJ Gleeson’s payout ratio is 4,482.76%.

Insiders Place Their Bets

In other MJ Gleeson news, insider Christopher H. B. Mills sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of GBX 600 ($7.93), for a total transaction of £1,200,000 ($1,585,204.76). Corporate insiders own 16.93% of the company’s stock.

MJ Gleeson Company Profile

MJ Gleeson plc engages in low-cost house building and land promotion activities in the United Kingdom. The company operates through two divisions, Gleeson Homes and Gleeson Land. It also engages in the house building activities in the north of England and Midlands; and sale of land in the south of England.