Man Group Plc (OTCMKTS:MNGPF) Short Interest Up 240.6% in August

Man Group Plc (OTCMKTS:MNGPF) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 15,447 shares, an increase of 240.6% from the July 30th total of 4,535 shares. Based on an average daily volume of 3,836 shares, the days-to-cover ratio is presently 4.0 days.

Man Group Stock Performance

MNGPF opened at $4.06 on Thursday. Man Group has a twelve month low of $2.10 and a twelve month high of $4.11. The company has a fifty day moving average of $4.00 and a 200-day moving average of $3.81.

Analysts Set New Price Targets

A number of brokerages have weighed in on MNGPF. Citigroup restated a “neutral” rating on shares of Man Group in a research report on Wednesday, July 29th. BNP Paribas Exane upgraded shares of Man Group from a “neutral” rating to an “outperform” rating in a report on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Man Group in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

About Man Group

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.