Mullen Group (TSE:MTL) Stock: Insider Joanna Kathryn Scott Sells 40,000 Shares

Mullen Group Ltd. (TSE:MTL) insider Joanna Kathryn Scott sold 40,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of C$29.68, for a total value of C$1,187,200.00. Following the transaction, the insider directly owned 5,000 shares of the company’s stock, valued at approximately C$148,400. This trade represents a 88.89% decrease in their ownership of the stock.

Mullen Group Stock Performance

TSE:MTL opened at C$28.81 on Friday. The company has a debt-to-equity ratio of 86.15, a current ratio of 2.18 and a quick ratio of 1.06. The business has a fifty day simple moving average of C$26.82 and a two-hundred day simple moving average of C$22.06. Mullen Group Ltd. has a 1 year low of C$13.92 and a 1 year high of C$32.47. The company has a market capitalization of C$2.76 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.81 and a beta of 0.83.

Mullen Group (TSE:MTL) last issued its earnings results on Thursday, October 22nd. The company reported C$0.52 earnings per share (EPS) for the quarter. The firm had revenue of C$653.17 million for the quarter. Mullen Group had a return on equity of 10.58% and a net margin of 5.25%.

Wall Street Analysts Forecast Growth

MTL has been the topic of several recent research reports. Desjardins upped their price objective on shares of Mullen Group from C$30.00 to C$31.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Raymond James Financial lifted their target price on shares of Mullen Group from C$25.00 to C$31.00 and gave the stock a “market perform” rating in a research note on Friday, October 23rd. Scotiabank boosted their price target on shares of Mullen Group from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research report on Thursday, October 15th. BMO Capital Markets boosted their price target on shares of Mullen Group from C$25.00 to C$32.00 in a research report on Friday, July 24th. Finally, Royal Bank Of Canada upped their price target on shares of Mullen Group from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research note on Friday, October 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$30.22.

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.