Shares of Micro Focus International PLC – (NYSE:MFGP) shot up 14.1% during mid-day trading on Wednesday . The company traded as high as $4.37 and last traded at $4.94, 1,515,488 shares changed hands during trading. An increase of 11% from the average session volume of 1,369,881 shares. The stock had previously closed at $4.33.
A number of research firms have issued reports on MFGP. Zacks Investment Research cut Micro Focus International from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 11th. ValuEngine cut Micro Focus International from a “buy” rating to a “hold” rating in a report on Friday, March 13th. Finally, Jefferies Financial Group decreased their price objective on Micro Focus International to $11.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $18.19.
The company has a fifty day moving average price of $8.32 and a two-hundred day moving average price of $12.54. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.75.
Several hedge funds and other institutional investors have recently made changes to their positions in MFGP. NEXT Financial Group Inc lifted its stake in Micro Focus International by 2,323.7% in the 4th quarter. NEXT Financial Group Inc now owns 3,175 shares of the company’s stock valued at $44,000 after purchasing an additional 3,044 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Micro Focus International in the 4th quarter valued at about $62,000. Tower Research Capital LLC TRC lifted its stake in Micro Focus International by 78.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,437 shares of the company’s stock valued at $91,000 after purchasing an additional 2,825 shares during the last quarter. Advisor Group Inc. lifted its position in Micro Focus International by 72.1% during the fourth quarter. Advisor Group Inc. now owns 6,770 shares of the company’s stock worth $95,000 after acquiring an additional 2,837 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Micro Focus International during the fourth quarter worth approximately $108,000. Institutional investors own 16.05% of the company’s stock.
Micro Focus International Company Profile (NYSE:MFGP)
Micro Focus International plc, an infrastructure software company, develops, sells, and supports software products and solutions to small and medium size enterprises. The company offers infrastructure software products that are managed on an investment portfolio. Its product portfolio includes application modernization and connectivity, application delivery management, and IT operations management, as well as security, information management, and Governance.
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