Marsh & McLennan Companies (MMC) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 4,296,325 to 4,185,902 shares, with 2 days to go before the expiry. The short open interest has decreased by -2.6%, amounting to a reduction of -110,423 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 0.8% of the float of the company. The average daily volume of the stock is 1,915,737 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Marsh & McLennan Companies (NYSE:MMC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $67.03 and $66.83 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $67.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $67.17, notching a gain of 0.06% for the day. The total traded volume was 1,308,851 . The stock had closed at $67.13 on the previous day.
In a related news, The officer (Chairman of MMC International), of Marsh & Mclennan Companies, Inc., Moczarski Alexander S had unloaded 22,230 shares at $67.41 per share in a transaction on August 15, 2016. The total value of transaction was $1,498,524. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Marsh and McLennan Companies, Inc. is a professional services firm. The Company operates as two business segments: Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment provides risk management activities and insurance broking, reinsurance broking and insurance program management services for businesses, public entities, insurance companies, associations, professional services organizations and private clients. The Company conducts business in this segment through Marsh and Guy Carpenter. The Company conducts business in its Consulting segment through two main business groups: Mercer, provides consulting expertise, advice, services and solutions in the areas of health, retirement, talent and investments, and Oliver Wyman Group, provides specialized management and economic and brand consulting services.