Mitie Group plc (LON:MTO) Insider Acquires £150 in Stock

Mitie Group plc (LON:MTO) insider Phillip Bentley purchased 125 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was bought at an average cost of GBX 120 ($1.59) per share, with a total value of £150 ($199.02).

Mitie Group Stock Performance

LON:MTO opened at GBX 133.40 ($1.77) on Friday. The company has a market cap of £1.68 billion, a P/E ratio of 13.86, a P/E/G ratio of 10.10 and a beta of 1.41. Mitie Group plc has a twelve month low of GBX 101 ($1.34) and a twelve month high of GBX 134.65 ($1.79). The company’s 50-day moving average price is GBX 116.92 and its 200-day moving average price is GBX 114.59. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41.

Mitie Group declared that its board has authorized a share buyback program on Wednesday, April 16th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank boosted their target price on shares of Mitie Group from GBX 160 ($2.12) to GBX 165 ($2.19) and gave the stock a “buy” rating in a research note on Wednesday.

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.