Manhattan Associates (NASDAQ:MANH) Hits New 52-Week Low – Here’s Why

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $183.50 and last traded at $188.84, with a volume of 206603 shares changing hands. The stock had previously closed at $200.90.

Analysts Set New Price Targets

Several research firms recently commented on MANH. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. DA Davidson decreased their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Raymond James dropped their target price 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. Truist Financial decreased their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Robert W. Baird raised their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Performance

The stock has a 50-day moving average price of $270.72 and a two-hundred day moving average price of $270.88. The stock has a market capitalization of $10.98 billion, a PE ratio of 51.21 and a beta of 1.50.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s 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 sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Manhattan Associates

Several large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates in the 3rd quarter worth about $34,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates during the fourth quarter worth approximately $34,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Manhattan Associates in the 3rd quarter worth approximately $42,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Manhattan Associates during the 3rd quarter valued at approximately $50,000. 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.