ValuEngine Lowers Manhattan Associates (MANH) to Sell
ValuEngine lowered shares of Manhattan Associates (NASDAQ:MANH) from a hold rating to a sell rating in a research note issued to investors on Thursday.
Several other brokerages have also weighed in on MANH. Zacks Investment Research lowered shares of Manhattan Associates from a hold rating to a sell rating in a research report on Monday, December 11th. TheStreet lowered shares of Manhattan Associates from a b- rating to a c+ rating in a research report on Tuesday, February 20th. Finally, BidaskClub upgraded shares of Manhattan Associates from a hold rating to a buy rating in a research report on Wednesday, December 27th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Manhattan Associates currently has an average rating of Hold and a consensus price target of $55.00.
Manhattan Associates (NASDAQ MANH) opened at $43.82 on Thursday. Manhattan Associates has a 1 year low of $39.63 and a 1 year high of $54.21. The firm has a market cap of $2,978.46, a PE ratio of 25.04 and a beta of 1.26.
Manhattan Associates announced that its board has approved a stock repurchase plan on Tuesday, February 6th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in MANH. Fox Run Management L.L.C. acquired a new stake in shares of Manhattan Associates in the third quarter valued at approximately $295,000. Aperio Group LLC grew its position in shares of Manhattan Associates by 12.5% in the third quarter. Aperio Group LLC now owns 18,690 shares of the software maker’s stock valued at $777,000 after purchasing an additional 2,076 shares during the last quarter. First Quadrant L P CA grew its position in shares of Manhattan Associates by 27.0% in the third quarter. First Quadrant L P CA now owns 16,770 shares of the software maker’s stock valued at $697,000 after purchasing an additional 3,570 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Manhattan Associates in the third quarter valued at approximately $280,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Manhattan Associates in the third quarter valued at approximately $168,000.
About Manhattan Associates
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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