Mitie Group (LON:MTO) Stock Falls 0.2% – Here’s Why

Mitie Group plc (LON:MTO)’s stock price traded down 0.2% on Friday. The company traded as low as GBX 208.40 and last traded at GBX 208.60. Approximately 1,611,463 shares traded hands during trading, a decline of 90% from the average session volume of 15,708,219 shares. The stock had previously closed at GBX 209.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank downgraded shares of Mitie Group to a “hold” rating and reduced their target price for the stock from GBX 230 to GBX 219 in a research note on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Mitie Group presently has an average rating of “Moderate Buy” and a consensus price target of GBX 201.25.

Mitie Group Price Performance

The business’s 50 day moving average is GBX 210.02 and its two-hundred day moving average is GBX 186.02. The company has a debt-to-equity ratio of 107.60, a quick ratio of 0.83 and a current ratio of 0.89. The firm has a market capitalization of £2.65 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 10.10 and a beta of 0.89.

Insider Transactions at Mitie Group

In related news, insider Mary Reilly purchased 1,135 shares of Mitie Group stock in a transaction dated Thursday, October 1st. The stock was bought at an average cost of GBX 211 per share, for a total transaction of £2,394.85. Also, insider Simon Kirkpatrick sold 656,219 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of GBX 209, for a total value of £1,371,497.71. Insiders purchased 3,022 shares of company stock valued at $637,427 over the last three months. Company insiders own 2.45% of the company’s stock.

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.