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Man Group plc ( (GB:EMG) ) just unveiled an announcement.
Man Group plc announced the purchase of 246,708 of its ordinary shares as part of its ongoing US$100 million share buyback program. The shares were acquired at a weighted average price of 176.69 pence per share and will be held in treasury, increasing the total treasury shares to 100,802,309. This move is part of the company’s strategy to enhance shareholder value and manage its capital structure effectively.
The most recent analyst rating on (GB:EMG) stock is a Hold with a £3.01 price target. To see the full list of analyst forecasts on Man Group plc stock, see the GB:EMG Stock Forecast page.
Spark’s Take on GB:EMG Stock
According to Spark, TipRanks’ AI Analyst, GB:EMG is a Outperform.
Man Group plc’s overall stock score is bolstered by its strong financial performance, undervaluation, and strategic initiatives like the share buyback program. While the decline in EBIT margin and net outflows pose challenges, the company’s robust cash flow and dividend yield offer significant investor appeal.
To see Spark’s full report on GB:EMG stock, click here.
More about Man Group plc
Man Group plc operates in the financial services industry, focusing on investment management. The company offers a range of investment strategies and solutions to a diverse client base, including institutional and private investors.
Average Trading Volume: 4,794,364
Technical Sentiment Signal: Sell
Current Market Cap: £1.99B
Learn more about EMG stock on TipRanks’ Stock Analysis page.
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