Magellan Financial Group Limited (OTCMKTS:MGLLF) Sees Significant Decline in Short Interest

Magellan Financial Group Limited (OTCMKTS:MGLLF) saw a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 171,440 shares, a decline of 23.2% from the January 15th total of 223,255 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is presently ∞ days. Based on an average daily volume of 0 shares, the days-to-cover ratio is presently ∞ days.

Magellan Financial Group Stock Performance

OTCMKTS:MGLLF remained flat at C$6.40 during mid-day trading on Monday. Magellan Financial Group has a 12-month low of C$5.10 and a 12-month high of C$6.40. The firm has a 50 day moving average of C$6.40 and a two-hundred day moving average of C$6.40.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lowered shares of Magellan Financial Group to a “sell” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

About Magellan Financial Group

Magellan Financial Group Ltd is a global investment manager headquartered in Sydney, Australia. Founded in 2006 by Hamish Douglass and Chris Mackay, the firm offers a range of investment strategies focused on high-quality global equities and listed infrastructure assets. Magellan’s core business activities include the management of funds and mandates for retail, wholesale and institutional clients, with an emphasis on capital preservation and long-term value creation.

The company’s flagship products include its Global Fund, which targets established companies with sustainable competitive advantages, and its Infrastructure Fund, which invests in essential global infrastructure businesses such as utilities, transportation and toll roads.