Entropy Technologies LP Invests $725,000 in ManpowerGroup Inc. (NYSE:MAN)

Key Points

• Entropy Technologies LP purchased 12,524 shares of ManpowerGroup Inc. valued at approximately $725,000, marking a new position for the firm.
• ManpowerGroup's stock has experienced a 52-week low of $37.97 and a high of $75.57, with the current price at $39.81.
• The company reported an earnings per share (EPS) of $0.78 for the last quarter, surpassing analysts' expectations of $0.69 by $0.09.

Entropy Technologies LP bought a new stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,524 shares of the business services provider's stock, valued at approximately $725,000.

Other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in ManpowerGroup by 36.1% during the first quarter. Invesco Ltd. now owns 2,608,221 shares of the business services provider's stock valued at $150,964,000 after acquiring an additional 691,678 shares during the period. Covestor Ltd boosted its holdings in ManpowerGroup by 28.8% during the first quarter. Covestor Ltd now owns 3,073 shares of the business services provider's stock valued at $178,000 after acquiring an additional 688 shares during the period. Frank Rimerman Advisors LLC bought a new stake in ManpowerGroup during the first quarter valued at about $770,000. Ontario Teachers Pension Plan Board boosted its holdings in ManpowerGroup by 239.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 14,478 shares of the business services provider's stock valued at $838,000 after acquiring an additional 10,216 shares during the period. Finally, Deutsche Bank AG boosted its holdings in ManpowerGroup by 523.6% during the first quarter. Deutsche Bank AG now owns 148,744 shares of the business services provider's stock valued at $8,609,000 after acquiring an additional 124,893 shares during the period. 98.03% of the stock is owned by institutional investors and hedge funds.

ManpowerGroup Stock Performance

Shares of NYSE MAN traded up $0.11 during mid-day trading on Friday, hitting $41.30. The company had a trading volume of 706,119 shares, compared to its average volume of 896,070. ManpowerGroup Inc. has a 12 month low of $37.97 and a 12 month high of $75.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $1.91 billion, a P/E ratio of -108.68 and a beta of 1.08. The business's 50-day simple moving average is $41.91 and its 200-day simple moving average is $47.68.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. ManpowerGroup had a negative net margin of 0.09% and a positive return on equity of 7.98%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the business posted $1.30 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group upped their price target on shares of ManpowerGroup from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Truist Financial decreased their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded shares of ManpowerGroup from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, BMO Capital Markets reduced their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $48.20.

ManpowerGroup Profile

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.