Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Update

Manhattan Associates, Inc. (NASDAQ:MANH) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,120,000 shares, a drop of 35.3% from the January 15th total of 1,730,000 shares. Based on an average daily trading volume, of 574,300 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.9% of the shares of the company are sold short.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The stock was 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. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Hedge funds have recently modified their holdings of the company. Twin Tree Management LP acquired a new position in Manhattan Associates in the 4th quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new position in Manhattan Associates in the third quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at $35,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MANH shares. Truist Financial decreased their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. DA Davidson lowered their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Raymond James lowered their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, Loop Capital dropped their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded up $2.83 during midday trading on Friday, hitting $190.41. The company had a trading volume of 857,847 shares, compared to its average volume of 693,494. The business’s 50-day simple moving average is $259.20 and its 200-day simple moving average is $268.28. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 54.25 and a beta of 1.50. Manhattan Associates has a twelve month low of $169.94 and a twelve month high of $312.60.

About Manhattan Associates

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.