Neo Ivy Capital Management Has $863,000 Stock Position in ManpowerGroup Inc. (NYSE:MAN)

Key Points

• Neo Ivy Capital Management has reduced its stake in ManpowerGroup by 48.4%, now holding 14,910 shares valued at approximately $863,000.
• Several analysts have adjusted their price targets for ManpowerGroup, with BMO Capital Markets and Truist Financial lowering theirs to $48.00.
• ManpowerGroup recently reported a positive earnings surprise of $0.09, achieving earnings per share of $0.78 for the latest quarter despite a 0.5% year-over-year revenue decline.

Neo Ivy Capital Management trimmed its stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) by 48.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,910 shares of the business services provider's stock after selling 13,977 shares during the quarter. Neo Ivy Capital Management's holdings in ManpowerGroup were worth $863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers increased its holdings in shares of ManpowerGroup by 16.5% in the 1st quarter. Cetera Investment Advisers now owns 9,748 shares of the business services provider's stock valued at $564,000 after acquiring an additional 1,381 shares during the last quarter. Royce & Associates LP boosted its holdings in ManpowerGroup by 9.7% in the first quarter. Royce & Associates LP now owns 68,027 shares of the business services provider's stock worth $3,937,000 after purchasing an additional 6,000 shares during the period. Oak Thistle LLC bought a new stake in ManpowerGroup during the first quarter valued at $354,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in ManpowerGroup by 16.6% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 56,330 shares of the business services provider's stock valued at $3,260,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of ManpowerGroup by 15.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 11,400 shares of the business services provider's stock worth $660,000 after purchasing an additional 1,520 shares during the period. Institutional investors own 98.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MAN shares. JPMorgan Chase & Co. decreased their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 21st. BMO Capital Markets cut their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. UBS Group upped their target price on ManpowerGroup from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wall Street Zen raised ManpowerGroup from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their price objective for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $48.20.

ManpowerGroup Stock Performance

Shares of NYSE MAN traded down $0.85 during midday trading on Wednesday, hitting $43.18. 120,262 shares of the company's stock were exchanged, compared to its average volume of 914,863. ManpowerGroup Inc. has a twelve month low of $37.99 and a twelve month high of $77.85. The firm has a market cap of $2.00 billion, a P/E ratio of -113.62 and a beta of 1.07. The stock's 50 day moving average price is $42.27 and its 200-day moving average price is $49.47. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.98 and a quick ratio of 1.12.

ManpowerGroup (NYSE:MAN - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate 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 previous year, the business earned $1.30 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts anticipate that ManpowerGroup Inc. will post 4.23 EPS for the current year.

ManpowerGroup Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.72 dividend. The ex-dividend date was Monday, June 2nd. This represents a yield of 3.5%. ManpowerGroup's dividend payout ratio is presently -378.95%.

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.