Phillip Bentley Buys 125 Shares of Mitie Group plc (LON:MTO) Stock

Mitie Group plc (LON:MTO) insider Phillip Bentley bought 125 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was purchased at an average price of GBX 120 ($1.59) per share, with a total value of £150 ($198.54).

Mitie Group Stock Up 7.4 %

MTO stock opened at GBX 131 ($1.73) on Thursday. The firm has a 50-day moving average price of GBX 116.59 and a 200-day moving average price of GBX 114.49. Mitie Group plc has a 12 month low of GBX 101 ($1.34) and a 12 month high of GBX 131 ($1.73). The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The stock has a market capitalization of £1.65 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41.

Mitie Group announced that its board has authorized a share repurchase program on Wednesday, April 16th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Berenberg Bank initiated coverage on Mitie Group in a report on Tuesday, January 28th. They issued a “buy” rating and a GBX 160 ($2.12) target price on the 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.