Insider Buying: Mitie Group (LON:MTO) Insider Buys £2,394.85 in Stock

by · The Markets Daily

Mitie Group plc (LON:MTO – Get Free Report) insider Mary Reilly bought 1,135 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was acquired at an average price of GBX 211 per share, for a total transaction of £2,394.85.

Mitie Group Price Performance

MTO stock opened at GBX 210 on Friday. The company has a debt-to-equity ratio of 107.60, a current ratio of 0.89 and a quick ratio of 0.83. The firm has a market cap of £2.62 billion, a PE ratio of 34.43, a P/E/G ratio of 10.10 and a beta of 0.89. Mitie Group plc has a 12 month low of GBX 134.80 and a 12 month high of GBX 214. The firm has a 50 day simple moving average of GBX 208.83 and a 200 day simple moving average of GBX 182.97.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Berenberg Bank downgraded Mitie Group to a “hold” rating and cut their price objective for the company from GBX 230 to GBX 219 in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 195 target price on shares of Mitie Group in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 201.25.

View Our Latest Research Report on MTO

Mitie Group News Roundup

Here are the key news stories impacting Mitie Group this week:

  • Positive Sentiment: Directors Mary Reilly and Salma Shah bought 1,135 and 1,744 shares, respectively, at approximately GBX 211 per share. Although the combined purchases were modest, insider buying can signal confidence in Mitie’s outlook. Mitie Directors Increase Holdings with Small Share Purchases
  • Positive Sentiment: Mitie shares recently moved above their 200-day moving average. This technical breakout may attract momentum-focused investors and reinforces the stock’s longer-term uptrend. Mitie Group Shares Break Above Two Hundred Day Moving Average
  • Neutral Sentiment: Mitie updated shareholders on its issued share capital and voting rights as of September 30. The filing is routine and does not appear to materially change the investment case. Mitie Updates Issued Share Capital and Voting Rights
  • Neutral Sentiment: Senior executives disclosed the exercise of 2021 long-term incentive plan options. These transactions are generally compensation-related and are not necessarily evidence of open-market conviction. Mitie LTIP Share Options
  • Negative Sentiment: Director Simon Kirkpatrick sold 369,123 shares for approximately £775,000. The transaction was far larger than the purchases by Reilly and Shah and could weigh on sentiment, although it does not prove that he has a negative view of Mitie’s business prospects.
  • Negative Sentiment: Valuation and analyst targets may temper upside: Mitie trades at a relatively high reported P/E, while the consensus price target is GBX 201.25, below recent trading levels. Berenberg has also downgraded the shares to “hold,” despite the broader analyst consensus remaining “Moderate Buy.”

Mitie Group Company Profile

(Get Free Report)

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.

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