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

Man Group Limited (OTCMKTS:MNGPFGet Rating) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 22,500 shares, a growth of 262.9% from the April 30th total of 6,200 shares. Based on an average daily trading volume, of 4,100 shares, the days-to-cover ratio is presently 5.5 days.

Shares of Man Group stock remained flat at $$2.86 on Thursday. The stock’s 50-day moving average price is $2.89 and its 200 day moving average price is $2.84. Man Group has a one year low of $2.31 and a one year high of $3.23.

MNGPF has been the topic of several recent research reports. UBS Group raised their price objective on Man Group from GBX 285 ($3.59) to GBX 305 ($3.84) in a research note on Friday, May 6th. Exane BNP Paribas raised Man Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 20th. Barclays lifted their target price on Man Group from GBX 240 ($3.02) to GBX 255 ($3.21) in a research note on Friday, April 22nd. Morgan Stanley raised their price target on Man Group from GBX 277 ($3.49) to GBX 301 ($3.79) in a report on Tuesday, March 29th. Finally, JPMorgan Chase & Co. raised their price target on Man Group from GBX 295 ($3.71) to GBX 300 ($3.78) in a report on Friday, April 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $286.20.

Man Group Company Profile (Get Rating)

Man Group Limited is a publicly owned investment manager. The firm provides long-only and alternative investment management services worldwide. It offers a range of liquid investment products and solutions, which include quantitative, multi-manager and discretionary investment styles, and span across various asset classes, like equity, real estate, currency, credit, volatility, and commodities.

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