M&G plc (OTCMKTS:MGPUF) Sees Large Drop in Short Interest

M&G plc (OTCMKTS:MGPUF) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 159,571 shares, a drop of 42.8% from the December 15th total of 278,871 shares. Based on an average daily volume of 297 shares, the days-to-cover ratio is presently 537.3 days. Based on an average daily volume of 297 shares, the days-to-cover ratio is presently 537.3 days.

M&G Price Performance

OTCMKTS MGPUF opened at $4.06 on Friday. M&G has a 1-year low of $2.16 and a 1-year high of $4.06. The company has a 50 day moving average of $3.73 and a 200-day moving average of $3.58.

Analysts Set New Price Targets

Separately, UBS Group lowered shares of M&G to a “neutral” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, M&G has an average rating of “Hold”.

M&G Company Profile

M&G plc is a UK-based savings and investment business that was demerged from Prudential plc in October 2020. Tracing its roots back to the founding of Municipal & General Securities Company Limited in 1931, the firm has grown into a diversified provider of investment management and long-term savings and retirement solutions. Headquartered in London, M&G serves both retail and institutional clients through a broad network of distribution channels.

The company’s main activities are split between asset management and savings & insurance.