Man Group (LON:EMG) Sets New 1-Year High - Here's Why

Key Points

• Man Group hit a new 52-week high, trading as high as GBX 310.60 before closing slightly lower at GBX 307.80.
• Analysts are mixed on the stock: Jefferies kept a buy rating, while Deutsche Bank downgraded it to hold and lifted its target to GBX 310. The overall consensus from MarketBeat remains Hold with a GBX 271 price target.
• Recent insider buying may have supported sentiment, with Laurie Fitch and Colin Bell both purchasing shares in June and May, respectively.

Man Group Plc (LON:EMG - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 310.60 and last traded at GBX 307.80, with a volume of 6221730 shares. The stock had previously closed at GBX 305.20.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and set a GBX 280 price target on shares of Man Group in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered shares of Man Group to a "hold" rating and raised their price objective for the company from GBX 295 to GBX 310 in a research report on Thursday, June 25th. Finally, Citigroup reduced their price objective on shares of Man Group from GBX 290 to GBX 285 and set a "neutral" rating for the company in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of GBX 271.

Man Group Price Performance

The business's 50 day moving average is GBX 288.62 and its two-hundred day moving average is GBX 267.98. The firm has a market capitalization of £3.41 billion, a PE ratio of 20.37, a P/E/G ratio of -1.15 and a beta of 0.64. The company has a debt-to-equity ratio of 18.04, a current ratio of 0.95 and a quick ratio of 1.58.

Insiders Place Their Bets

In related news, insider Laurie Fitch acquired 15,000 shares of the company's stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of GBX 285 per share, with a total value of £42,750. Also, insider Colin Bell bought 18,050 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of GBX 276 per share, with a total value of £49,818. 7.72% of the stock is owned by corporate insiders.

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.

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