Manchester & London (LON:MNL) Shares Down 7.6% – Here’s Why

Shares of Manchester & London (LON:MNL) fell 7.6% on Monday . The stock traded as low as GBX 735.80 ($9.17) and last traded at GBX 741.31 ($9.24). 39,702 shares were traded during mid-day trading, a decline of 26% from the average session volume of 53,345 shares. The stock had previously closed at GBX 802 ($10.00).

Manchester & London Price Performance

The firm has a market capitalization of £297.27 million, a PE ratio of 246.28 and a beta of 0.42. The business’s 50 day moving average is GBX 741.91 and its two-hundred day moving average is GBX 709.30.

Insider Activity

In other news, insider Daniel Wright bought 1,009 shares of Manchester & London stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average price of GBX 710 ($8.85) per share, with a total value of £7,163.90 ($8,928.09). Corporate insiders own 2.09% of the company’s stock.

Manchester & London Company Profile

Manchester & London Investment Trust is managed by M & L Capital Management Limited, an Alternative Investment Fund Management Firm specialising in Intellectual Property rich, fast growth, Global Equities.

Our central investment thesis is that we believe in the increasing economic power of the Machine in the two century long battle for supremacy between Man & Machine.