Manhattan Associates, Inc. $MANH Stock Holdings Lessened by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Manhattan Associates by 2.3%, holding 68,178 shares worth approximately $11.8 million.
• Several other large investors have recently made significant changes to their holdings, with Central Pacific Bank Trust Division increasing its stake by 107.3% in the first quarter.
• Manhattan Associates reported a quarterly earnings of $1.31 per share, surpassing analyst estimates, and projected a FY 2025 guidance of 4.760-4.840 EPS.

Corebridge Financial Inc. reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,178 shares of the software maker's stock after selling 1,635 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Manhattan Associates worth $11,798,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted 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 buying an additional 103 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates in the fourth quarter worth $38,000. Brooklyn Investment Group raised its holdings in shares of Manhattan Associates by 70.1% during the first quarter. Brooklyn Investment Group now owns 359 shares of the software maker's stock worth $62,000 after acquiring an additional 148 shares in the last quarter. Reyes Financial Architecture Inc. boosted its position in Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after purchasing an additional 142 shares during the last quarter. Finally, Bayforest Capital Ltd grew its stake in Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of Manhattan Associates stock in a transaction dated Friday, July 25th. The stock was 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 in the company, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Linda T. Hollembaek sold 2,024 shares of the stock in a transaction that occurred on 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 approximately $2,637,757.71. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,666 shares of company stock worth $9,251,781. Company insiders own 0.72% of the company's stock.

Manhattan Associates Stock Down 0.1%

Shares of MANH stock opened at $214.64 on Wednesday. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The company has a market cap of $12.98 billion, a PE ratio of 59.96 and a beta of 1.10. The business's 50 day moving average is $206.71 and its two-hundred day moving average is $187.85.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MANH. Truist Financial raised their price target on Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Robert W. Baird increased their price objective on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. DA Davidson raised their price objective on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. Finally, Citigroup restated a "neutral" rating and set a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $216.67.

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.

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