Man Group Plc (OTCMKTS:MNGPF) Sees Significant Increase in Short Interest

Man Group Plc (OTCMKTS:MNGPF) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 26,422 shares, an increase of 1,126.1% from the May 31st total of 2,155 shares. Based on an average trading volume of 449 shares, the short-interest ratio is presently 58.8 days.

Man Group Stock Performance

Shares of MNGPF opened at $3.85 on Friday. The company’s 50-day moving average price is $3.74 and its 200 day moving average price is $3.50. Man Group has a 12-month low of $2.10 and a 12-month high of $3.90.

Wall Street Analysts Forecast Growth

MNGPF has been the subject of a number of analyst reports. Citigroup reissued a “neutral” rating on shares of Man Group in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Man Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BNP Paribas Exane raised shares of Man Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Man Group presently has an average 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.