Micro Focus International (NYSE:MFGP) Upgraded to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Micro Focus International (NYSE:MFGP) from a hold rating to a buy rating in a research note released on Tuesday morning, The Fly reports. Jefferies Financial Group also issued estimates for Micro Focus International’s FY2021 earnings at $1.32 EPS, FY2022 earnings at $1.14 EPS and FY2023 earnings at $1.17 EPS.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Micro Focus International from a strong sell rating to a hold rating in a report on Wednesday, January 5th. Investec raised shares of Micro Focus International from a sell rating to a hold rating in a report on Thursday, November 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Micro Focus International presently has a consensus rating of Hold and a consensus price target of $7.75.

NYSE:MFGP opened at $5.98 on Tuesday. The company has a 50-day moving average of $5.21 and a 200-day moving average of $5.43. Micro Focus International has a 52 week low of $4.32 and a 52 week high of $8.19.

A number of hedge funds have recently made changes to their positions in MFGP. VIEX Capital Advisors LLC lifted its holdings in Micro Focus International by 1,440.6% during the 3rd quarter. VIEX Capital Advisors LLC now owns 1,062,515 shares of the company’s stock valued at $5,780,000 after purchasing an additional 993,546 shares during the last quarter. Bank of Montreal Can increased its position in Micro Focus International by 18,752.0% in the 2nd quarter. Bank of Montreal Can now owns 766,335 shares of the company’s stock valued at $5,709,000 after acquiring an additional 762,270 shares in the last quarter. 22NW LP increased its position in Micro Focus International by 60.7% in the 2nd quarter. 22NW LP now owns 1,396,928 shares of the company’s stock valued at $10,519,000 after acquiring an additional 527,589 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Micro Focus International by 3,374.8% in the 3rd quarter. Goldman Sachs Group Inc. now owns 423,965 shares of the company’s stock valued at $2,307,000 after acquiring an additional 411,764 shares in the last quarter. Finally, OLD Mission Capital LLC increased its position in Micro Focus International by 106.1% in the 2nd quarter. OLD Mission Capital LLC now owns 497,164 shares of the company’s stock valued at $3,744,000 after acquiring an additional 255,972 shares in the last quarter. 13.33% of the stock is owned by hedge funds and other institutional investors.

Micro Focus International Company Profile

Micro Focus International Plc engages in the management of mature infrastructure software assets to organizations leverage value from their investments in IT infrastructure and business applications. It operates through the following segments: Micro Focus Product Portfolio and SUSE Product Portfolio.

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