Clark Estates Inc. NY Lowers Stake in ManpowerGroup (NYSE:MAN)
Clark Estates Inc. NY reduced its stake in ManpowerGroup (NYSE:MAN) by 12.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,000 shares of the business services provider’s stock after selling 5,000 shares during the period. ManpowerGroup makes up 0.7% of Clark Estates Inc. NY’s investment portfolio, making the stock its 26th largest position. Clark Estates Inc. NY’s holdings in ManpowerGroup were worth $3,796,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MAN. First Manhattan Co. raised its position in shares of ManpowerGroup by 10.7% in the first quarter. First Manhattan Co. now owns 67,409 shares of the business services provider’s stock valued at $4,871,000 after buying an additional 6,520 shares during the period. Nationwide Fund Advisors raised its position in shares of ManpowerGroup by 20.2% in the first quarter. Nationwide Fund Advisors now owns 145,389 shares of the business services provider’s stock valued at $14,913,000 after buying an additional 24,411 shares during the period. James Investment Research Inc. raised its position in shares of ManpowerGroup by 70.5% in the first quarter. James Investment Research Inc. now owns 343,707 shares of the business services provider’s stock valued at $35,254,000 after buying an additional 142,175 shares during the period. Oakbrook Investments LLC raised its position in shares of ManpowerGroup by 2.7% in the first quarter. Oakbrook Investments LLC now owns 5,805 shares of the business services provider’s stock valued at $595,000 after buying an additional 155 shares during the period. Finally, Deschutes Portfolio Strategy LLC bought a new position in shares of ManpowerGroup during the first quarter valued at approximately $234,000. Institutional investors and hedge funds own 93.74% of the company’s stock.
ManpowerGroup (NYSE:MAN) opened at 107.26 on Friday. ManpowerGroup has a 52 week low of $67.30 and a 52 week high of $119.59. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 16.41 and a beta of 1.39. The company has a 50 day moving average of $110.91 and a 200 day moving average of $103.22.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by $0.01. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the company earned $1.60 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that ManpowerGroup will post $6.75 EPS for the current fiscal year.
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Several brokerages have commented on MAN. Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. BMO Capital Markets upped their price objective on shares of ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Royal Bank Of Canada restated a “sector perform” rating and issued a $111.00 price objective (up from $104.00) on shares of ManpowerGroup in a report on Friday, July 14th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Tuesday, July 4th. Finally, BidaskClub upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. ManpowerGroup currently has an average rating of “Hold” and an average target price of $102.71.
In related news, SVP Richard Buchband sold 1,250 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $109.00, for a total value of $136,250.00. Following the completion of the sale, the senior vice president now directly owns 3,884 shares of the company’s stock, valued at $423,356. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Darryl Green sold 76,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $105.83, for a total transaction of $8,043,080.00. Following the completion of the sale, the chief operating officer now directly owns 36,454 shares of the company’s stock, valued at $3,857,926.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,715 shares of company stock valued at $12,904,283. 0.87% of the stock is owned by insiders.
ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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