Magellan Financial Group Limited (OTCMKTS:MGLLF) Short Interest Down 23.2% in January

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

Wall Street Analyst Weigh In

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

Magellan Financial Group Price Performance

Shares of MGLLF stock opened at C$6.40 on Friday. The company’s fifty day simple moving average is C$6.40 and its two-hundred day simple moving average is C$6.40. Magellan Financial Group has a 1 year low of C$5.10 and a 1 year 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.