Bank of America Corp DE Sells 22,336 Shares of Mantech International Corp (MANT)
Bank of America Corp DE lessened its stake in shares of Mantech International Corp (NASDAQ:MANT) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,165 shares of the technology company’s stock after selling 22,336 shares during the quarter. Bank of America Corp DE owned about 0.46% of Mantech International worth $9,771,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Intrinsic Edge Capital Management LLC acquired a new position in Mantech International in the 2nd quarter valued at $13,137,000. Capital Fund Management S.A. acquired a new position in Mantech International in the 2nd quarter valued at $408,000. OppenheimerFunds Inc. increased its stake in Mantech International by 1,577.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 336,309 shares of the technology company’s stock valued at $18,039,000 after buying an additional 316,266 shares during the period. Earnest Partners LLC increased its stake in Mantech International by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 1,439,787 shares of the technology company’s stock valued at $77,230,000 after buying an additional 5,198 shares during the period. Finally, United Services Automobile Association grew its stake in shares of Mantech International by 49.9% during the 2nd quarter. United Services Automobile Association now owns 7,308 shares of the technology company’s stock worth $392,000 after purchasing an additional 2,433 shares during the period. Institutional investors and hedge funds own 64.69% of the company’s stock.
In related news, CEO Kevin M. Phillips sold 63,645 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $65.36, for a total value of $4,159,837.20. Following the sale, the chief executive officer now directly owns 84,046 shares in the company, valued at approximately $5,493,246.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard J. Kerr sold 1,598 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $62.72, for a total transaction of $100,226.56. Following the completion of the sale, the director now owns 25,222 shares in the company, valued at $1,581,923.84. The disclosure for this sale can be found here. Insiders sold a total of 81,835 shares of company stock worth $5,359,430 over the last quarter. Insiders own 34.10% of the company’s stock.
Mantech International (NASDAQ:MANT) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. Mantech International had a net margin of 6.68% and a return on equity of 5.46%. The business had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $476.98 million. During the same period in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities research analysts expect that Mantech International Corp will post 2.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were given a $0.25 dividend. The ex-dividend date was Thursday, September 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.73%. Mantech International’s dividend payout ratio is presently 61.73%.
MANT has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Mantech International from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. BidaskClub raised shares of Mantech International from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. SunTrust Banks raised shares of Mantech International from a “hold” rating to a “buy” rating and upped their price target for the stock from $60.00 to $66.00 in a research note on Friday, July 6th. Wells Fargo & Co upped their price target on shares of Mantech International from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 2nd. Finally, Cowen reaffirmed a “buy” rating and set a $65.00 price target on shares of Mantech International in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.13.
About Mantech International
ManTech International Corporation provides technologies and solutions for mission-critical national security programs worldwide. It offers cyber solutions and services, including security operations, threat intelligence, incident response and forensics, boundary defense, security systems engineering, infrastructure security, and computer forensics and exploitation.
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