Man Group (OTCMKTS:MNGPF) Stock Jumps 8.2% – Here’s Why

Man Group Plc (OTCMKTS:MNGPF) rose 8.2% during trading on Thursday. The stock traded as high as $4.66 and last traded at $4.3935. 959 shares changed hands during trading, a decline of 92% from the average session volume of 12,204 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MNGPF shares. Citigroup reissued a “buy” rating on shares of Man Group in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Man Group in a research note on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Man Group has an average rating of “Moderate Buy”.

Man Group Trading Down 4.4%

The business has a 50-day simple moving average of $4.07 and a two-hundred day simple moving average of $3.82.

About Man Group

Man Group plc is a global active investment management firm serving institutional investors, private-wealth clients and other financial intermediaries. The company manages a range of investment strategies across public and private markets, with capabilities spanning alternative investments, long-only equities and fixed income, multi-asset portfolios, and customized investment solutions.

Man Group operates through several specialist investment businesses, including AHL, which focuses on systematic and quantitative strategies; Man GLG, a discretionary investment manager; Man Numeric, which applies quantitative approaches to equities; and Man Solutions, which provides portfolio design, advisory and implementation services.