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

Key Points

• Technical breakout: Man Group's stock crossed above its 200-day moving average (GBX 233.94), trading as high as GBX 265.60 and last at GBX 263.29 on a volume of 72,254,836 shares.
• Analyst momentum: Citigroup raised its target to GBX 275 (neutral) and Jefferies to GBX 280 (buy), with the stock holding a consensus rating of "Moderate Buy" and an average target of GBX 253.50.
• Insider activity: Antoine Forterre sold 36,650 shares at GBX 256 while Anne Wade purchased 6,000 shares at GBX 243, and corporate insiders own 7.83% of the company.

Man Group Plc (LON:EMG - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 233.94 and traded as high as GBX 265.60. Man Group shares last traded at GBX 263.29, with a volume of 72,254,836 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Man Group from GBX 190 to GBX 275 and gave the stock a "neutral" rating in a report on Tuesday, January 20th. Jefferies Financial Group boosted their price objective on Man Group from GBX 240 to GBX 280 and gave the company a "buy" rating in a report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of GBX 253.50.

Man Group Stock Up 0.3%

The company has a market cap of £2.95 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of -1.15 and a beta of 0.66. The company has a debt-to-equity ratio of 18.04, a quick ratio of 1.58 and a current ratio of 0.95. The business's fifty day moving average is GBX 259.14 and its two-hundred day moving average is GBX 233.94.

Insider Activity at Man Group

In other news, insider Antoine Forterre sold 36,650 shares of Man Group stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of GBX 256, for a total transaction of £93,824. Also, insider Anne Wade purchased 6,000 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of GBX 243 per share, with a total value of £14,580. Corporate insiders own 7.83% 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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