Freestone Grove Partners LP Acquires New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Freestone Grove Partners LP bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,211 shares of the software maker’s stock, valued at approximately $598,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Manhattan Associates in the third quarter valued at $502,000. JPMorgan Chase & Co. boosted its stake in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares during the period. GAMMA Investing LLC grew its position in shares of Manhattan Associates by 40.1% during the fourth quarter. GAMMA Investing LLC now owns 1,662 shares of the software maker’s stock worth $449,000 after buying an additional 476 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $484,000. Finally, PFW Advisors LLC acquired a new stake in Manhattan Associates in the fourth quarter valued at approximately $467,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 2.7 %

Shares of NASDAQ MANH opened at $183.41 on Friday. The business has a 50-day moving average price of $168.86 and a 200 day moving average price of $230.08. The stock has a market cap of $11.14 billion, a PE ratio of 52.25 and a beta of 1.36. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

MANH has been the subject of several analyst reports. Citigroup lowered their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Piper Sandler dropped their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. DA Davidson lifted their price target on Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Robert W. Baird dropped their price objective on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.