M&G plc (OTCMKTS:MGPUF) Sees Significant Increase in Short Interest

M&G plc (OTCMKTS:MGPUF) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 742,113 shares, a growth of 42.9% from the February 12th total of 519,314 shares. Based on an average daily trading volume, of 2,669 shares, the days-to-cover ratio is presently 278.0 days. Based on an average daily trading volume, of 2,669 shares, the days-to-cover ratio is presently 278.0 days.

Wall Street Analyst Weigh In

Separately, UBS Group downgraded shares of M&G to a “neutral” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, M&G has an average rating of “Hold”.

M&G Stock Performance

Shares of OTCMKTS:MGPUF opened at $4.12 on Friday. The business has a 50 day simple moving average of $4.21 and a two-hundred day simple moving average of $3.77. M&G has a 1 year low of $2.16 and a 1 year high of $4.50.

M&G Company Profile

M&G plc is a UK-based savings and investment business that was demerged from Prudential plc in October 2020. Tracing its roots back to the founding of Municipal & General Securities Company Limited in 1931, the firm has grown into a diversified provider of investment management and long-term savings and retirement solutions. Headquartered in London, M&G serves both retail and institutional clients through a broad network of distribution channels.

The company’s main activities are split between asset management and savings & insurance.