MJ Gleeson (LON:GLE) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

MJ Gleeson plc (LON:GLE) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 572.28 ($7.19) and traded as low as GBX 510 ($6.41). MJ Gleeson shares last traded at GBX 510 ($6.41), with a volume of 55,175 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 643 ($8.08) target price on shares of MJ Gleeson in a report on Wednesday, September 18th.

MJ Gleeson Price Performance

The company has a market cap of £298.91 million, a price-to-earnings ratio of 1,551.52 and a beta of 1.14. The company has a quick ratio of 0.89, a current ratio of 5.79 and a debt-to-equity ratio of 8.37. The company has a fifty day simple moving average of GBX 552.80 and a two-hundred day simple moving average of GBX 571.94.

Insider Activity at MJ Gleeson

In related news, insider Stefan Allanson sold 10,532 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of GBX 620 ($7.79), for a total transaction of £65,298.40 ($82,064.09). Also, insider Christopher H. B. Mills sold 300,000 shares of MJ Gleeson stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of GBX 610 ($7.67), for a total transaction of £1,830,000 ($2,299,861.76). 16.85% of the stock is owned by corporate insiders.

About MJ Gleeson

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.