Exchange Traded Concepts LLC Reduces Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Exchange Traded Concepts LLC reduced its stake in Manhattan Associates, Inc. by 15.8% during the second quarter, owning approximately $13.95 million of the company's stock after selling 13,254 shares.
• Other institutional investors, such as Swedbank AB and UBS AM, significantly increased their holdings in Manhattan Associates, with Swedbank raising its position by 50% and UBS AM by 101.7% during their respective reporting periods.
• Analysts have mixed views on the stock, with six giving it a Buy rating, three a Hold, and one a Sell, while new target prices range from $200 to $250.

Exchange Traded Concepts LLC trimmed its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 15.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,632 shares of the software maker's stock after selling 13,254 shares during the quarter. Exchange Traded Concepts LLC owned 0.12% of Manhattan Associates worth $13,948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of Manhattan Associates during the 4th quarter valued at $38,000. Central Pacific Bank Trust Division raised its stake in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after purchasing an additional 103 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Manhattan Associates by 117.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 230 shares of the software maker's stock worth $45,000 after acquiring an additional 124 shares during the last quarter. Brooklyn Investment Group increased its stake in Manhattan Associates by 70.1% in the 1st quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock worth $62,000 after acquiring an additional 148 shares during the last quarter. Finally, Reyes Financial Architecture Inc. increased its stake in Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after acquiring an additional 142 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of research analyst reports. Truist Financial upped their target price on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley initiated coverage on Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price on the stock. Raymond James Financial upped their target price on Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Citigroup restated a "neutral" rating and issued a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research note on Wednesday, July 16th. Finally, Robert W. Baird upped their target price on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $216.67.

Insider Transactions at Manhattan Associates

In related news, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the sale, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. This represents a 18.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the sale, the director owned 11,907 shares of the company's stock, valued at $2,637,757.71. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,666 shares of company stock worth $9,251,781. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Trading Down 0.9%

Shares of MANH traded down $1.91 during midday trading on Monday, reaching $215.80. The stock had a trading volume of 392,008 shares, compared to its average volume of 557,170. The company's 50-day moving average is $213.86 and its 200 day moving average is $192.64. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 60.28 and a beta of 1.13.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%.The firm had revenue of $272.42 million during the quarter, compared to analysts' expectations of $263.62 million. During the same period in the prior year, the business earned $1.18 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. Research analysts forecast that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Manhattan Associates 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.