Short Interest in Magellan Financial Group Limited (OTCMKTS:MGLLF) Drops By 23.2%

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

Magellan Financial Group Price Performance

Shares of OTCMKTS:MGLLF opened at C$6.40 on Friday. The company has a 50 day moving average price of C$6.40 and a two-hundred day moving average price of C$6.40. Magellan Financial Group has a 52 week low of C$5.10 and a 52 week high of C$6.40.

Wall Street Analyst Weigh In

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