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

Key Points

• Man Group shares crossed above their 200-day moving average, reaching GBX 330.80 and last trading at GBX 330 on exceptionally high volume of 220.9 million shares.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of GBX 304.75, despite Jefferies maintaining a “Buy” rating with a GBX 345 target.
• Man Group has a £3.66 billion market capitalization and a P/E ratio of 11.74; insider Antoine Forterre recently sold 500,000 shares for approximately £1.535 million.

Man Group Plc (LON:EMG - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 288.49 and traded as high as GBX 330.80. Man Group shares last traded at GBX 330, with a volume of 220,882,266 shares.

Wall Street Analysts Forecast Growth

EMG has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating and issued a GBX 345 price target on shares of Man Group in a report on Wednesday, July 29th. Citigroup raised their target price on Man Group from GBX 325 to GBX 335 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 330 price objective on shares of Man Group in a report on Friday, September 4th. One equities 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.com, the stock has a consensus rating of "Hold" and an average price target of GBX 304.75.

Man Group Stock Performance

The company has a 50-day simple moving average of GBX 312.94 and a two-hundred day simple moving average of GBX 288.49. The company has a debt-to-equity ratio of 19.06, a quick ratio of 1.58 and a current ratio of 2.40. The firm has a market capitalization of £3.66 billion, a P/E ratio of 11.74, a PEG ratio of -1.15 and a beta of 0.63.

Insiders Place Their Bets

In other Man Group news, insider Antoine Forterre sold 500,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of GBX 307, for a total value of £1,535,000. 7.71% of the stock is currently owned by 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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