Manhattan Associates (NASDAQ:MANH) Reaches New 52-Week Low – Here’s Why

Manhattan Associates, Inc. (NASDAQ:MANH) reached a new 52-week low during trading on Monday . The stock traded as low as $201.54 and last traded at $202.82, with a volume of 32494 shares changing hands. The stock had previously closed at $208.59.

Analysts Set New Price Targets

MANH has been the topic of several research reports. Truist Financial cut their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Citigroup dropped their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Loop Capital dropped their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Stock Down 3.1 %

The firm has a market cap of $12.35 billion, a P/E ratio of 57.68 and a beta of 1.50. The business’s 50 day moving average is $279.60 and its 200-day moving average is $271.88.

Insiders Place Their Bets

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the company. Oak Thistle LLC acquired a new position in shares of Manhattan Associates during the fourth quarter valued at $1,326,000. GAMMA Investing LLC lifted its holdings in Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after purchasing an additional 382 shares during the period. Smith Group Asset Management LLC lifted its holdings in Manhattan Associates by 1.8% in the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after purchasing an additional 1,641 shares during the period. Mediolanum International Funds Ltd lifted its holdings in Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.