Dodge & Cox recently announced the acquisition of new stake in Micro Focus International plc (NYSE:MFGP). The institutional investor has increased its shareholding in the Technology company by 2.39% to 35.5 million shares with purchase of 0.83 million shares. This fresh investment now brings its stake to 10.61% valued currently at $173.96 million. In addition, Arrowstreet Capital LP raised its holdings by 31295.0 to 1.55 million shares. And Parametric Portfolio Associates L. has lifted its position by 250.43% or 1.01 million shares – to 1.41 million shares.
With over 1.87 million Micro Focus International plc (MFGP) shares trading Wednesday and a closing price of $4.73 on the day, the dollar volume was approximately $8.86 million. The shares have shown a negative weekly performance of -13.69% and its price on 07/08/20 gained nearly 6.05%. Currently, there are 334.66M common shares owned by the public and among those 330.56M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: Several analysts who have offered their price forecasts for MFGP have a consensus price objective of $7.94. The analysts have set the share’s price value over the next 12 months at a high of $17.09 and a low of $4.09 should the stock experience a downside. Incidentally, analysts’ outlook for the Micro Focus International plc stock is 2.50 for the next 12 months. The average price target is 38.17% above its last price level and an upside to the estimated low will see the stock lose -15.65% over that period. But an upside of 72.32% will see the stock hit the forecast high price target while mean target price for the stock is $5.73.
Insiders at the company have nil transactions over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC).
The top 3 mutual fund holders in Micro Focus International plc are Dodge & Cox Funds – Stock Fund, Dodge & Cox Funds – Balanced Fund, and First Trust NASDAQ Technology Div. Dodge & Cox Funds – Stock Fund owns 22.76 million shares of the company’s stock, all valued at over $111.53 million. The company sold 89000.0 shares recently to bring their total holdings to about 6.80% of the shares outstanding. Dodge & Cox Funds – Balanced Fund has total holdings of 3.45 million shares valued at over $16.91 million and representing 1.03% of the shares outstanding. First Trust NASDAQ Technology Div has total holdings to over 0.95 million shares at a value of $4.65 million. First Trust NASDAQ Technology Div now owns shares totaling to 0.28% of the shares outstanding.
Shares of Micro Focus International plc (NYSE: MFGP) opened at $4.71, up from a prior closing price of $4.46. However, the script later closed the day at $4.73, up 6.05%. The company’s stock has a 5-day price change of -13.69% and 2.16% over the past three months. MFGP shares are trading -66.29% year to date (YTD), with the 12-month market performance down to -80.69% lower. It has a 12-month low price of $3.42 and touched a high of $26.35 over the same period. Currently, 1.87 million shares have been traded, compared to an average intraday trading volume of 1.31 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.93%, -16.35%, and -52.19% respectively.
Institutional ownership of Micro Focus International plc (NYSE: MFGP) shares accounts for 26.51% of the company’s 334.66M shares outstanding. Mutual fund holders own 6.62%, while other institutional holders and individual stakeholders account for 9.50% and — respectively.
It has a market capitalization of $1.58B. The stock’s trailing 12-month PE ratio is 1.22, while the earnings-per-share (ttm) stands at $3.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.99% over the week and 4.31% over the month.
If you are looking to buy this stock, then you may note that the average analyst recommendation by several brokerage firm advisors rate Micro Focus International plc (MFGP) as a “Moderate Buy” at a consensus score of 2.50.
Looking at the support for the MFGP, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on July 08, 2020. Goldman coverage for the Micro Focus International plc (MFGP) stock in a research note released on November 05, 2019 offered a Neutral rating with a price target of. Barclays was of a view on October 10, 2019 that the stock is Equal Weight, while JP Morgan gave the stock Neutral rating on September 26, 2019. Jefferies on their part issued Hold rating on July 22, 2019.