Man Group (LON:EMG) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Man Group shares crossed above their 200-day moving average, rising as high as GBX 310.20 and last trading at GBX 309.09, compared with a 200-day average of GBX 280.25.
• Analyst sentiment remains cautious: Citigroup and Deutsche Bank raised their targets to GBX 335 and GBX 330 while maintaining neutral/hold ratings, and Jefferies reiterated a buy rating with a GBX 345 target. The consensus rating is “Hold,” with an average target of GBX 304.75.
• Insider activity was mixed, with Laurie Fitch buying 15,000 shares for £42,750 and Antoine Forterre selling 500,000 shares for £1.535 million; insiders collectively own 7.47% of the company.

Man Group Plc (LON:EMG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 280.25 and traded as high as GBX 310.20. Man Group shares last traded at GBX 309.09, with a volume of 1,957,211 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup upped their target price on Man Group from GBX 325 to GBX 335 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Man Group from GBX 310 to GBX 330 and gave the company a "hold" rating in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a GBX 345 price objective on shares of Man Group in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Man Group currently has an average rating of "Hold" and a consensus target price of GBX 304.75.

Man Group Stock Performance

The company's 50-day moving average price is GBX 303.64 and its two-hundred day moving average price is GBX 280.25. The company has a market cap of £3.54 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of -1.15 and a beta of 0.63. The company has a current ratio of 2.40, a quick ratio of 1.58 and a debt-to-equity ratio of 19.06.

Insider Activity at Man Group

In other Man Group news, insider Laurie Fitch purchased 15,000 shares of the firm's stock in a transaction on Friday, June 26th. The shares were purchased at an average price of GBX 285 per share, for a total transaction of £42,750. Also, insider Antoine Forterre sold 500,000 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of GBX 307, for a total value of £1,535,000. 7.47% of the stock is owned by corporate insiders.

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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