Man Group Increases Stake in American Axle to 1.87%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Globenewswire
- Stake Increase: Man Group PLC has increased its stake in American Axle & Manufacturing Holdings, Inc. from 0.21% to 1.87% by acquiring 258,414 shares, reflecting confidence in the company's future prospects.
- Increased Short Position: Concurrently, Man Group holds a short position of 1,975,889 shares in cash-settled derivatives, representing 1.66% of its total holdings, indicating expectations of market volatility.
- Active Trading: In recent transactions, Man Group sold 8,200 shares of common stock at $6.71 each, demonstrating active participation in the market.
- Compliance Transparency: This disclosure adheres to Rule 8 of the Takeover Code, ensuring that the market has a clear understanding of Man Group's investment dynamics in American Axle, thereby enhancing market transparency.
AXL
$6.63+Infinity%1D
Analyst Views on AXL
Wall Street analysts forecast AXL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AXL is 7.04 USD with a low forecast of 4.50 USD and a high forecast of 8.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
2 Buy
2 Hold
1 Sell
Hold
Current: 6.700
Low
4.50
Averages
7.04
High
8.50
Current: 6.700
Low
4.50
Averages
7.04
High
8.50
About AXL
American Axle & Manufacturing Holdings, Inc. is an automotive and mobility supplier. It designs, engineers and manufactures driveline and metal forming technologies to support electric, hybrid and internal combustion vehicles. Its segment includes Driveline and Metal Forming. The Driveline products consist primarily of front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover utility vehicles, passenger cars and commercial vehicles. The Metal Forming products consist primarily of engine, transmission, driveline and safety-critical components for traditional internal combustion engine and electric vehicle architectures, including light vehicles, commercial vehicles, and off-highway vehicles, as well as products for industrial markets. It is a supplier of driveline components to General Motors Company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
