Man Group Plc (OTCMKTS:MNGPF) Sees Large Growth in Short Interest

Man Group Plc (OTCMKTS:MNGPF) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 4,535 shares, an increase of 439.2% from the July 15th total of 841 shares. Based on an average daily volume of 118 shares, the days-to-cover ratio is currently 38.4 days.

Man Group Price Performance

Shares of OTCMKTS:MNGPF opened at $4.06 on Wednesday. The stock’s 50-day simple moving average is $3.96 and its two-hundred day simple moving average is $3.76. Man Group has a 52-week low of $2.10 and a 52-week high of $4.11.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MNGPF shares. Citigroup reissued a “neutral” rating on shares of Man Group in a research report on Wednesday, July 29th. BNP Paribas Exane raised shares of Man Group from a “neutral” rating to an “outperform” rating in a report on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Man Group in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Man Group 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.