Insider Buying: Mullen Group (TSE:MTL) Insider Acquires 9,500 Shares

Mullen Group Ltd. (TSE:MTL) insider Carson Paul Urlacher purchased 9,500 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average price of C$28.20 per share, for a total transaction of C$267,900.00. Following the completion of the transaction, the insider directly owned 90,000 shares of the company’s stock, valued at C$2,538,000. This represents a 11.80% increase in their ownership of the stock.

Mullen Group Stock Down 1.1%

TSE:MTL traded down C$0.32 during mid-day trading on Thursday, hitting C$27.53. 221,315 shares of the company’s stock were exchanged, compared to its average volume of 289,077. The company has a debt-to-equity ratio of 89.59, a current ratio of 2.17 and a quick ratio of 1.06. The business has a fifty day moving average price of C$23.08 and a 200 day moving average price of C$19.66. Mullen Group Ltd. has a one year low of C$12.98 and a one year high of C$28.78. The company has a market cap of C$2.65 billion, a PE ratio of 24.80, a P/E/G ratio of 1.81 and a beta of 1.13.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. Mullen Group had a net margin of 4.65% and a return on equity of 9.35%. The business had revenue of C$609.30 million during the quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTL. Acumen Capital lifted their price target on shares of Mullen Group from C$20.50 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Raymond James Financial increased their price objective on shares of Mullen Group from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Desjardins boosted their target price on shares of Mullen Group from C$23.00 to C$30.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Scotiabank raised their price target on Mullen Group from C$24.00 to C$29.00 in a research note on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Mullen Group from C$20.00 to C$22.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$26.00.

About Mullen Group

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.