Magellan Financial Group Limited (OTCMKTS:MGLLF) Sees Large Decline in Short Interest

Magellan Financial Group Limited (OTCMKTS:MGLLF) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 171,440 shares, a drop of 23.2% from the January 15th total of 223,255 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered Magellan Financial Group to a “sell” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Magellan Financial Group Stock Performance

Magellan Financial Group stock opened at C$6.40 on Tuesday. The firm’s fifty day moving average price is C$6.40 and its 200-day moving average price is C$6.40. Magellan Financial Group has a fifty-two week low of C$5.10 and a fifty-two week high of C$6.40.

About Magellan Financial Group

Magellan Financial Group Ltd is a global investment manager headquartered in Sydney, Australia. Founded in 2006 by Hamish Douglass and Chris Mackay, the firm offers a range of investment strategies focused on high-quality global equities and listed infrastructure assets. Magellan’s core business activities include the management of funds and mandates for retail, wholesale and institutional clients, with an emphasis on capital preservation and long-term value creation.

The company’s flagship products include its Global Fund, which targets established companies with sustainable competitive advantages, and its Infrastructure Fund, which invests in essential global infrastructure businesses such as utilities, transportation and toll roads.