Manhattan Associates, Inc. (NASDAQ:MANH) Sees Large Increase in Short Interest
Manhattan Associates, Inc. (NASDAQ:MANH) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 7,038,968 shares, a growth of 33.3% from the July 14th total of 5,279,940 shares. Currently, 10.3% of the shares of the company are short sold. Based on an average daily volume of 1,228,615 shares, the short-interest ratio is presently 5.7 days.
Institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its position in Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock valued at $113,000 after buying an additional 377 shares during the last quarter. Lloyds Banking Group plc acquired a new position in Manhattan Associates during the first quarter valued at $126,000. Bronfman E.L. Rothschild L.P. increased its position in Manhattan Associates by 41.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock valued at $120,000 after buying an additional 726 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Manhattan Associates by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock valued at $123,000 after buying an additional 271 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in Manhattan Associates by 79.0% in the second quarter. Riverhead Capital Management LLC now owns 3,760 shares of the software maker’s stock valued at $181,000 after buying an additional 1,660 shares during the last quarter.
Shares of Manhattan Associates (NASDAQ MANH) opened at 42.74 on Friday. The firm has a 50-day moving average of $45.81 and a 200-day moving average of $47.93. The company has a market cap of $2.95 billion, a P/E ratio of 24.69 and a beta of 1.15. Manhattan Associates has a 12-month low of $42.50 and a 12-month high of $62.14.
Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $154.10 million during the quarter, compared to the consensus estimate of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. Analysts predict that Manhattan Associates will post $1.87 EPS for the current year.
Manhattan Associates declared that its board has authorized a stock repurchase program on Thursday, April 20th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
A number of analysts have issued reports on MANH shares. Zacks Investment Research raised shares of Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Thursday, June 15th. Benchmark Co. downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Friday, April 21st. SunTrust Banks, Inc. started coverage on shares of Manhattan Associates in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, BidaskClub raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $59.50.
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Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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