Man Group (LON:EMG) Shares Down 7.3% – Here’s What Happened

Man Group Plc (LON:EMG)’s share price was down 7.3% during mid-day trading on Thursday . The stock traded as low as GBX 240.20 and last traded at GBX 245.60. Approximately 6,823,361 shares traded hands during trading, a decline of 54% from the average daily volume of 14,943,425 shares. The stock had previously closed at GBX 265.

Wall Street Analyst Weigh In

Several research firms have weighed in on EMG. Jefferies Financial Group boosted their target price on shares of Man Group from GBX 240 to GBX 280 and gave the company a “buy” rating in a report on Tuesday, January 20th. Citigroup reduced their price target on shares of Man Group from GBX 290 to GBX 285 and set a “neutral” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 256.

Man Group Stock Down 7.3%

The business’s 50 day moving average price is GBX 258.93 and its 200-day moving average price is GBX 236.67. The firm has a market capitalization of £2.75 billion, a PE ratio of 16.37, a P/E/G 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.

Insider Activity at Man Group

In other news, insider Anne Wade purchased 6,000 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of GBX 243 per share, for a total transaction of £14,580. Also, insider Laurie Fitch acquired 5,000 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of GBX 242 per share, with a total value of £12,100. 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.