MJ Gleeson (LON:GLE) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Shares of MJ Gleeson plc (LON:GLE - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 577.59 ($7.31) and traded as low as GBX 515 ($6.52). MJ Gleeson shares last traded at GBX 516 ($6.53), with a volume of 25,330 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 643 ($8.14) price target on shares of MJ Gleeson in a research report on Wednesday, September 18th.

MJ Gleeson Stock Down 1.2 %

The stock has a market capitalization of £297.74 million, a price-to-earnings ratio of 1,563.64 and a beta of 1.14. The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.89 and a current ratio of 5.79. The firm's fifty day simple moving average is GBX 595.54 and its 200 day simple moving average is GBX 577.59.

MJ Gleeson Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a GBX 7 ($0.09) dividend. The ex-dividend date of this dividend is Thursday, October 24th. This is a positive change from MJ Gleeson's previous dividend of $4.00. This represents a yield of 1.25%. MJ Gleeson's dividend payout ratio is presently 3,333.33%.

Insider Buying and Selling at MJ Gleeson

In other news, insider Stefan Allanson sold 10,532 shares of MJ Gleeson stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of GBX 620 ($7.85), for a total value of £65,298.40 ($82,624.83). Also, insider Christopher H. B. Mills sold 300,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of GBX 610 ($7.72), for a total transaction of £1,830,000 ($2,315,576.36). Company insiders own 16.85% of the company's stock.

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.