Insider Selling: Mitie Group (LON:MTO) Insider Sells £775,158.30 in Stock

Mitie Group plc (LON:MTO) insider Simon Kirkpatrick sold 369,123 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of GBX 210, for a total value of £775,158.30.

Simon Kirkpatrick also recently made the following trade(s):

• On Wednesday, August 19th, Simon Kirkpatrick sold 656,219 shares of Mitie Group stock. The stock was sold at an average price of GBX 209, for a total value of £1,371,497.71.

Mitie Group Price Performance

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Berenberg Bank downgraded shares of Mitie Group to a “hold” rating and lowered their price objective for the stock from GBX 230 to GBX 219 in a research note on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 195 target price on shares of Mitie Group in a research report on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 201.25.

More Mitie Group News

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

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.