Man Group (LON:EMG) Stock Passes Above 200-Day Moving Average – Here’s Why

Man Group Plc (LON:EMG) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 263.24 and traded as high as GBX 304.40. Man Group shares last traded at GBX 298, with a volume of 2,306,492 shares traded.

Wall Street Analysts Forecast Growth

EMG has been the subject of several research analyst reports. Citigroup dropped their price objective on Man Group from GBX 290 to GBX 285 and set a “neutral” rating for the company in a research note on Monday, April 20th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 280 target price on shares of Man Group in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered Man Group to a “hold” rating and upped their target price for the company from GBX 295 to GBX 310 in a report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Man Group currently has an average rating of “Hold” and an average price target of GBX 271.

Man Group Stock Down 0.9%

The company has a market cap of £3.33 billion, a PE ratio of 19.87, a P/E/G ratio of -1.15 and a beta of 0.64. The company has a quick ratio of 1.58, a current ratio of 0.95 and a debt-to-equity ratio of 18.04. The firm’s fifty day simple moving average is GBX 280.66 and its 200-day simple moving average is GBX 263.24.

Insider Activity at Man Group

In related news, insider Laurie Fitch acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of GBX 285 per share, for a total transaction of £42,750. Also, insider Colin Bell bought 18,050 shares of Man Group stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of GBX 276 per share, for a total transaction of £49,818. Insiders own 7.70% of the company’s stock.

About Man Group

With a heritage in aiming to deliver attractive performance and tailored client solutions, Man Group is a highly active investment manager, powered by cutting edge investment technology. As a manager of millions of savers’ capital, we have a responsibility as stewards of those investments to create a better, more sustainable future for investors and society. Our quantitative expertise and data-driven culture means we believe Man Group is in a unique position to uncover the opportunities of the future.
Our five investment management businesses leverage our robust infrastructure to provide a diverse range of strategies across investment approaches, styles and asset classes.
We continuously invest in talent, technology and research as we strive to deliver the best results for our clients.