Man Group (LON:EMG) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Man Group shares crossed above their 200-day moving average on Thursday, trading as high as GBX 298 before ending around GBX 290. The move came on very heavy volume of more than 59 million shares.
• Analysts remain cautious overall: Deutsche Bank cut the stock to hold while raising its target to GBX 310, Citigroup lowered its target to GBX 285 with a neutral view, and Jefferies reiterated a buy rating. MarketBeat says the stock’s average rating is Hold with a target price of GBX 271.
• Recent insider buying may have supported sentiment, with Colin Bell and Laurie Fitch both purchasing shares in May and June. Man Group has a market value of about £3.23 billion and a relatively low beta of 0.64.

Man Group Plc (LON:EMG - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 270.84 and traded as high as GBX 298. Man Group shares last traded at GBX 290, with a volume of 59,152,199 shares changing hands.

Analysts Set New Price Targets

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

Man Group Trading Down 0.2%

The stock has a market capitalization of £3.23 billion, a P/E ratio of 19.33, a P/E/G ratio of -1.15 and a beta of 0.64. The firm's 50 day moving average price is GBX 291.62 and its 200 day moving average price is GBX 270.84. The company has a debt-to-equity ratio of 18.04, a current ratio of 0.95 and a quick ratio of 1.58.

Insider Activity at Man Group

In other Man Group news, insider Colin Bell bought 18,050 shares of Man Group stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of GBX 276 per share, with a total value of £49,818. Also, insider Laurie Fitch bought 15,000 shares of Man Group stock in a transaction dated Friday, June 26th. The shares were acquired at an average cost of GBX 285 per share, for a total transaction of £42,750. Company insiders own 7.72% of the company's stock.

Man Group Company Profile

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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