Persimmon (LON:PSN) Share Price Crosses Above 200 Day Moving Average - Here's Why

Persimmon Plc (LON:PSN - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,476.77 ($19.33) and traded as high as GBX 1,632 ($21.36). Persimmon shares last traded at GBX 1,599 ($20.93), with a volume of 311,569 shares traded.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Persimmon in a research report on Friday, July 5th.

Persimmon Stock Performance

The stock has a market capitalization of £5.03 billion, a price-to-earnings ratio of 1,966.88, a P/E/G ratio of 0.83 and a beta of 1.37. The company's fifty day simple moving average is GBX 1,629.82 and its 200 day simple moving average is GBX 1,478.63. The company has a quick ratio of 1.04, a current ratio of 4.09 and a debt-to-equity ratio of 0.38.

Persimmon Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 8th. Shareholders of record on Thursday, October 17th will be issued a GBX 20 ($0.26) dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a dividend yield of 1.3%. Persimmon's dividend payout ratio is currently 7,500.00%.

Insider Buying and Selling at Persimmon

In other Persimmon news, insider Andrew Duxbury sold 5,955 shares of the company's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of GBX 1,663 ($21.76), for a total value of £99,031.65 ($129,605.61). Corporate insiders own 3.01% of the company's stock.

Persimmon Company Profile

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.