Manhattan Associates (NASDAQ:MANH) Sets New 52-Week Low – Here’s What Happened

Manhattan Associates, Inc. (NASDAQ:MANH) reached a new 52-week low on Monday . The company traded as low as $201.54 and last traded at $202.82, with a volume of 32494 shares traded. The stock had previously closed at $208.59.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Loop Capital decreased their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Raymond James decreased their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Trading Down 1.9 %

The company has a fifty day simple moving average of $275.95 and a two-hundred day simple moving average of $271.59. The company has a market cap of $12.00 billion, a PE ratio of 55.99 and a beta of 1.50.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MANH. Capital Performance Advisors LLP acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $34,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at about $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $50,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.