Man Group (OTCMKTS:MNGPF) Shares Up 30.5% – Should You Buy?

Man Group Plc (OTCMKTS:MNGPF)’s stock price rose 30.5% during mid-day trading on Wednesday . The stock traded as high as $3.70 and last traded at $3.70. Approximately 7,367 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 5,656 shares. The stock had previously closed at $2.8350.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MNGPF shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Man Group in a research report on Tuesday, January 6th. Citigroup reissued a “neutral” rating on shares of Man Group in a report on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Man Group Stock Performance

The stock has a 50-day moving average of $2.87 and a 200-day moving average of $2.58.

About Man Group

Man Group is a global alternative investment manager that specializes in a wide range of hedge fund and quantitative strategies. Headquartered in London, the firm serves institutional, intermediary and private investors worldwide, offering bespoke asset management solutions designed to address diverse market conditions and client objectives. With a focus on risk-adjusted returns and systematic research, Man Group employs a combination of quantitative models, fundamental analysis and proprietary technology to identify investment opportunities across multiple asset classes.

The company’s flagship investment platforms include Man AHL, which develops and deploys systematic, data-driven trading strategies; Man GLG, a discretionary business driven by fundamental research and thematic macro insights; and Man Numeric, which applies statistical techniques to emerging markets and thematic investing.