Martingale Asset Management L P Sells 204,067 Shares of ManpowerGroup Inc. (MAN)
Martingale Asset Management L P trimmed its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 98.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,374 shares of the business services provider’s stock after selling 204,067 shares during the period. Martingale Asset Management L P’s holdings in ManpowerGroup were worth $205,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in shares of ManpowerGroup by 38.4% during the second quarter. State of Alaska Department of Revenue now owns 7,280 shares of the business services provider’s stock worth $626,000 after buying an additional 2,020 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of ManpowerGroup by 8.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 15,040 shares of the business services provider’s stock worth $1,731,000 after buying an additional 1,204 shares during the period. Koch Industries Inc. boosted its holdings in ManpowerGroup by 165.2% in the first quarter. Koch Industries Inc. now owns 11,788 shares of the business services provider’s stock valued at $1,357,000 after purchasing an additional 7,343 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in ManpowerGroup by 6.9% in the second quarter. Crossmark Global Holdings Inc. now owns 8,679 shares of the business services provider’s stock valued at $747,000 after purchasing an additional 560 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its holdings in ManpowerGroup by 29.2% in the first quarter. Suntrust Banks Inc. now owns 23,591 shares of the business services provider’s stock valued at $2,715,000 after purchasing an additional 5,336 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
MAN has been the subject of a number of research analyst reports. ValuEngine downgraded ManpowerGroup from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Zacks Investment Research downgraded ManpowerGroup from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Barclays lowered their price target on ManpowerGroup from $115.00 to $90.00 and set a “$86.63” rating for the company in a report on Wednesday, July 18th. Nomura reaffirmed a “buy” rating and issued a $130.00 price target on shares of ManpowerGroup in a report on Sunday, July 22nd. Finally, BMO Capital Markets lowered their price target on ManpowerGroup from $107.00 to $96.00 and set an “outperform” rating for the company in a report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $113.70.
Shares of MAN opened at $91.85 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $5.98 billion, a P/E ratio of 11.20 and a beta of 1.22. ManpowerGroup Inc. has a 52-week low of $81.85 and a 52-week high of $136.93.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Friday, July 20th. The business services provider reported $2.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.35. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.88 billion. ManpowerGroup had a return on equity of 19.37% and a net margin of 2.67%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. sell-side analysts predict that ManpowerGroup Inc. will post 8.94 EPS for the current fiscal year.
ManpowerGroup announced that its board has authorized a stock buyback plan on Friday, August 3rd that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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