GSA Capital Partners LLP Cuts Holdings in ManpowerGroup Inc. (NYSE:MAN)

Key Points

• GSA Capital Partners LLP has reduced its stake in ManpowerGroup Inc. by 46.5%, holding 44,644 shares after selling 38,798 shares in the first quarter of 2023.
• ManpowerGroup's quarterly earnings of $0.78 EPS surpassed analysts' expectations, while revenue of $4.52 billion also exceeded estimates.
• Several analysts have adjusted their price targets for ManpowerGroup, with a current average target price of $48.20 and a consensus rating of "Hold."

GSA Capital Partners LLP decreased its holdings in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 46.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,644 shares of the business services provider's stock after selling 38,798 shares during the period. ManpowerGroup makes up about 0.2% of GSA Capital Partners LLP's holdings, making the stock its 24th largest holding. GSA Capital Partners LLP owned 0.10% of ManpowerGroup worth $2,584,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in shares of ManpowerGroup by 24.0% during the 4th quarter. Northern Trust Corp now owns 437,495 shares of the business services provider's stock valued at $25,252,000 after purchasing an additional 84,741 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of ManpowerGroup during the 1st quarter valued at about $253,000. GAMMA Investing LLC increased its position in shares of ManpowerGroup by 190.6% during the 1st quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock valued at $43,000 after purchasing an additional 488 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of ManpowerGroup during the 1st quarter valued at about $887,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of ManpowerGroup by 79.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 53,703 shares of the business services provider's stock valued at $3,150,000 after purchasing an additional 23,795 shares during the last quarter. Institutional investors own 98.03% of the company's stock.

ManpowerGroup Trading Down 5.0%

Shares of MAN stock traded down $2.05 during trading hours on Friday, reaching $39.20. The company's stock had a trading volume of 628,287 shares, compared to its average volume of 921,155. ManpowerGroup Inc. has a one year low of $37.99 and a one year high of $75.57. The firm's fifty day simple moving average is $42.24 and its 200 day simple moving average is $49.28. The company has a current ratio of 0.98, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.81 billion, a P/E ratio of -103.30 and a beta of 1.07.

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

ManpowerGroup Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.72 per share. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 350.0%. ManpowerGroup's dividend payout ratio is -378.95%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MAN. JPMorgan Chase & Co. lowered their target price on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. UBS Group boosted their price target on ManpowerGroup from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Truist Financial reduced their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a report on Monday, April 21st. BMO Capital Markets cut their price objective on ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Finally, Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $55.00 to $50.00 in a research report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $48.20.

ManpowerGroup Company 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.