Short Interest in Manhattan Associates, Inc. (NASDAQ:MANH) Decreases By 35.3%

Manhattan Associates, Inc. (NASDAQ:MANH) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,120,000 shares, a decline 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 short-interest ratio is currently 2.0 days. Currently, 1.9% of the company’s stock are short sold.

Manhattan Associates Stock Up 1.5 %

Shares of MANH stock traded up $2.83 during mid-day trading on Friday, reaching $190.41. 857,847 shares of the company’s stock traded hands, compared to its average volume of 693,494. The company’s 50-day moving average price is $259.20 and its 200-day moving average price is $268.28. The company has a market cap of $11.63 billion, a P/E ratio of 54.25 and a beta of 1.50. Manhattan Associates has a 12 month low of $169.94 and a 12 month high of $312.60.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $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. 0.72% of the stock is owned by insiders.

Institutional Trading of Manhattan Associates

Institutional investors and hedge funds have recently made changes to their positions in the business. Twin Tree Management LP purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $25,000. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates in the 3rd quarter valued at $34,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $35,000. Finally, Transce3nd LLC acquired a new position in Manhattan Associates during the 4th quarter worth about $41,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MANH. Truist Financial cut their target price 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. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Raymond James reduced their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Citigroup reduced their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

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.