Mitie Group (LON:MTO) Share Price Passes Below 200-Day Moving Average – Here’s Why

Mitie Group plc (LON:MTO)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 117.76 ($1.49) and traded as low as GBX 108.40 ($1.37). Mitie Group shares last traded at GBX 108.40 ($1.37), with a volume of 1,813,557 shares changing hands.

Mitie Group Stock Performance

The company has a debt-to-equity ratio of 67.87, a current ratio of 0.93 and a quick ratio of 0.83. The firm has a market capitalization of £1.38 billion, a PE ratio of 1,233.33, a P/E/G ratio of 10.10 and a beta of 1.41. The company’s fifty day simple moving average is GBX 113.84 and its 200 day simple moving average is GBX 117.69.

Mitie Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, February 4th. Investors of record on Thursday, December 19th will be paid a dividend of GBX 1.30 ($0.02) per share. This represents a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 19th. Mitie Group’s payout ratio is currently 4,444.44%.

Insider Buying and Selling

In other news, insider Phillip Bentley sold 4,750,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of GBX 117 ($1.48), for a total value of £5,557,500 ($7,014,388.49). Also, insider Derek Mapp purchased 8,189 shares of Mitie Group stock in a transaction dated Tuesday, October 1st. The stock was bought at an average price of GBX 119 ($1.50) per share, with a total value of £9,744.91 ($12,299.52). 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.