Pallas Capital Advisors LLC Has $1.89 Million Stake in Manhattan Associates, Inc. $MANH

Key Points

• Pallas Capital Advisors LLC increased its stake in Manhattan Associates by 134%, acquiring an additional 5,486 shares, bringing their total to 9,580 shares valued at approximately $1.89 million.
• Insider transactions revealed that Chairman Eddie Capel sold 37,342 shares for over $8.29 million, resulting in an 18.64% decrease in his ownership.
• Analysts have mixed ratings on Manhattan Associates, with price targets ranging from $190 to $250, indicating a consensus rating of "Moderate Buy" and an average price target of $216.67.

Pallas Capital Advisors LLC raised its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 134.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,580 shares of the software maker's stock after acquiring an additional 5,486 shares during the period. Pallas Capital Advisors LLC's holdings in Manhattan Associates were worth $1,892,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MANH. Central Pacific Bank Trust Division raised its holdings in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Manhattan Associates in the 4th quarter worth approximately $38,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 buying an additional 124 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of 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 buying an additional 148 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its holdings in shares of 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 buying an additional 142 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MANH. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Morgan Stanley started coverage on Manhattan Associates in a research report on Monday, July 14th. They set an "underweight" rating and a $190.00 price target on the stock. 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. DA Davidson increased their price target on Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird increased their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $216.67.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 2,300 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Eddie Capel sold 37,342 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the sale, the chairman directly owned 162,988 shares in the company, valued at $36,212,673.84. The trade was a 18.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,666 shares of company stock worth $9,251,781 in the last three months. Insiders own 0.88% of the company's stock.

Manhattan Associates Stock Performance

MANH traded down $0.15 during mid-day trading on Friday, reaching $217.71. The stock had a trading volume of 2,440,695 shares, compared to its average volume of 456,228. The stock has a market capitalization of $13.16 billion, a P/E ratio of 60.81 and a beta of 1.13. The firm's fifty day simple moving average is $213.50 and its two-hundred day simple moving average is $192.03. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

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

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.