Short Interest in Man Group Plc (OTCMKTS:MNGPF) Drops By 95.4%

Man Group Plc (OTCMKTS:MNGPF) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 716 shares, a decline of 95.4% from the August 15th total of 15,447 shares. Based on an average daily trading volume, of 2 shares, the days-to-cover ratio is currently 358.0 days.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MNGPF. BNP Paribas Exane raised Man Group from a “neutral” rating to an “outperform” rating in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Man Group in a report on Friday, September 4th. Finally, Citigroup reiterated a “neutral” rating on shares of Man Group in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Man Group presently has a consensus rating of “Moderate Buy”.

Man Group Stock Performance

MNGPF remained flat at $4.06 during trading on Thursday. The company had a trading volume of 1,131 shares, compared to its average volume of 12,709. Man Group has a twelve month low of $2.10 and a twelve month high of $4.11. The company has a 50-day simple moving average of $4.05 and a 200-day simple moving average of $3.84.

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.