Man Group Plc (OTCMKTS:MNGPF) Sees Large Growth in Short Interest

Man Group Plc (OTCMKTS:MNGPF) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 4,535 shares, an increase of 439.2% from the July 15th total of 841 shares. Based on an average daily trading volume, of 118 shares, the days-to-cover ratio is currently 38.4 days.

Man Group Stock Performance

Shares of Man Group stock opened at $4.06 on Wednesday. The stock’s 50-day simple moving average is $3.96 and its 200-day simple moving average is $3.76. Man Group has a 52 week low of $2.10 and a 52 week high of $4.11.

Analyst Upgrades and Downgrades

MNGPF has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Man Group in a report on Wednesday, July 29th. BNP Paribas Exane upgraded shares of Man Group from a “neutral” rating to an “outperform” rating in a research report on Thursday, June 18th. Finally, Citigroup reissued a “neutral” rating on shares of Man Group in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Man Group Company Profile

Man Group is a global alternative investment manager that specializes in a wide range of hedge fund and quantitative strategies. Headquartered in London, the firm serves institutional, intermediary and private investors worldwide, offering bespoke asset management solutions designed to address diverse market conditions and client objectives. With a focus on risk-adjusted returns and systematic research, Man Group employs a combination of quantitative models, fundamental analysis and proprietary technology to identify investment opportunities across multiple asset classes.

The company’s flagship investment platforms include Man AHL, which develops and deploys systematic, data-driven trading strategies; Man GLG, a discretionary business driven by fundamental research and thematic macro insights; and Man Numeric, which applies statistical techniques to emerging markets and thematic investing.