Mitie Group (LON:MTO) Shares Down 13.2% – Here’s What Happened

Mitie Group plc (LON:MTO)’s stock price fell 13.2% on Friday . The stock traded as low as GBX 137.83 ($1.86) and last traded at GBX 138.60 ($1.88). 14,960,798 shares traded hands during trading, an increase of 234% from the average session volume of 4,482,611 shares. The stock had previously closed at GBX 159.60 ($2.16).

Analyst Ratings Changes

Separately, Berenberg Bank increased their price target on Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the company a “buy” rating in a report on Wednesday, April 16th.

Mitie Group Stock Down 1.7%

The company has a fifty day moving average of GBX 140.27 and a two-hundred day moving average of GBX 122.58. The company has a market cap of £1.72 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90.

Mitie Group (LON:MTO) last announced its quarterly earnings data on Thursday, June 5th. The company reported GBX 12.70 ($0.17) EPS for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. As a group, analysts anticipate that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 16th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Mitie Group

In other Mitie Group news, insider Derek Mapp acquired 8,571 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were bought at an average price of GBX 115 ($1.56) per share, with a total value of £9,856.65 ($13,334.21). Insiders have acquired 8,797 shares of company stock valued at $1,015,714 in the last quarter. 5.65% of the stock is owned by insiders.

About Mitie Group

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.