Insider Buying: Mitie Group plc (LON:MTO) Insider Acquires 101 Shares of Stock

Mitie Group plc (LON:MTO) insider Phillip Bentley acquired 101 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were acquired at an average price of GBX 149 ($1.98) per share, with a total value of £150.49 ($199.91).

Phillip Bentley also recently made the following trade(s):

• On Monday, April 14th, Phillip Bentley purchased 125 shares of Mitie Group stock. The shares were purchased at an average price of GBX 120 ($1.59) per share, with a total value of £150 ($199.26).

Mitie Group Stock Up 0.9%

Shares of Mitie Group stock opened at GBX 152.80 ($2.03) on Friday. The firm has a market cap of £1.93 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83. Mitie Group plc has a 52-week low of GBX 101 ($1.34) and a 52-week high of GBX 153.40 ($2.04). The stock has a 50-day simple moving average of GBX 128.41 and a 200-day simple moving average of GBX 118.41.

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

Analyst Ratings Changes

Separately, Berenberg Bank lifted their price target on Mitie Group from GBX 160 ($2.13) to GBX 165 ($2.19) and gave the company a “buy” rating in a report on Wednesday, April 16th.

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.