Short Interest in M&G plc (OTCMKTS:MGPUF) Drops By 42.8%

M&G plc (OTCMKTS:MGPUF) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 159,571 shares, a drop of 42.8% from the December 15th total of 278,871 shares. Based on an average trading volume of 297 shares, the short-interest ratio is presently 537.3 days. Based on an average trading volume of 297 shares, the short-interest ratio is presently 537.3 days.

Analyst Upgrades and Downgrades

Separately, UBS Group cut M&G to a “neutral” rating in a research note on Wednesday, December 17th. One equities 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’s stock. According to MarketBeat.com, M&G currently has a consensus rating of “Hold”.

M&G Price Performance

MGPUF stock remained flat at $4.06 during mid-day trading on Thursday. 154 shares of the company’s stock were exchanged, compared to its average volume of 5,525. M&G has a fifty-two week low of $2.16 and a fifty-two week high of $4.06. The company has a 50 day simple moving average of $3.72 and a 200-day simple moving average of $3.58.

About M&G

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.