GSA Capital Partners LLP Takes $661,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• GSA Capital Partners LLP has purchased a new position in Manhattan Associates, acquiring 3,822 shares valued at approximately $661,000 in the first quarter.
• Manhattan Associates reported earnings per share of $1.31, exceeding estimates, alongside a quarterly revenue of $272.42 million, indicating a year-over-year revenue increase of 2.7%.
• Insider trading activity includes executives selling a total of 41,666 shares valued at about $9.25 million within the last 90 days, reflecting a decrease in their ownership stakes.

GSA Capital Partners LLP bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,822 shares of the software maker's stock, valued at approximately $661,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division grew its position in Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares during the period. Park Square Financial Group LLC acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $38,000. Transce3nd LLC acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $41,000. Reyes Financial Architecture Inc. boosted its position 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 purchasing an additional 142 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in shares of Manhattan Associates by 57.7% during the 1st quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock worth $96,000 after purchasing an additional 202 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Down 2.3%

Shares of Manhattan Associates stock opened at $214.66 on Friday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm has a market capitalization of $12.98 billion, a PE ratio of 59.96 and a beta of 1.10. The firm's 50-day moving average price is $198.54 and its 200 day moving average price is $191.65.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.19. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The business had revenue of $272.42 million for the quarter, compared to the consensus estimate of $263.62 million. During the same quarter last year, the business posted $1.18 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the transaction, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total transaction of $448,376.72. Following the transaction, the director owned 11,907 shares in the company, valued at $2,637,757.71. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,666 shares of company stock worth $9,251,781. Corporate insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MANH shares. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Raymond James Financial upped their price objective on shares of Manhattan Associates from $195.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Citigroup restated a "neutral" rating and set a $200.00 target price (up from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Morgan Stanley assumed coverage on Manhattan Associates in a research note on Monday, July 14th. They issued an "underweight" rating and a $190.00 price target for the company. Finally, Truist Financial increased their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $216.67.

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.

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