Quarry LP Purchases New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Quarry LP acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, Holdings Channel.com reports. The firm acquired 700 shares of the software maker’s stock, valued at approximately $189,000.

A number of other large investors also recently added to or reduced their stakes in the business. Boothbay Fund Management LLC grew its position in shares of Manhattan Associates by 57.5% during the 4th quarter. Boothbay Fund Management LLC now owns 1,756 shares of the software maker’s stock worth $475,000 after buying an additional 641 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $1,216,000. Two Sigma Securities LLC grew its position in shares of Manhattan Associates by 52.1% during the 4th quarter. Two Sigma Securities LLC now owns 1,802 shares of the software maker’s stock worth $487,000 after buying an additional 617 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $224,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $1,073,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $174.58 on Monday. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The firm has a 50 day moving average price of $169.19 and a 200 day moving average price of $233.92. The stock has a market cap of $10.60 billion, a P/E ratio of 49.74 and a beta of 1.36.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

MANH has been the subject of several analyst reports. Raymond James lowered their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler decreased their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Loop Capital restated a “hold” rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Finally, Truist Financial boosted their price objective on shares of Manhattan Associates from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $212.38.

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.