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

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

Insider Activity

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on 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 owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred on 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 owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of MANH. Twin Tree Management LP purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Manhattan Associates in the 3rd quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at $35,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Manhattan Associates during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Manhattan Associates stock traded up $2.83 during midday trading on Friday, reaching $190.41. 857,847 shares of the stock were exchanged, compared to its average volume of 693,494. The company’s fifty day moving average is $259.20 and its 200-day moving average is $268.28. The firm has a market cap of $11.63 billion, a PE ratio of 54.25 and a beta of 1.50. Manhattan Associates has a 52 week low of $169.94 and a 52 week high of $312.60.

Analysts Set New Price Targets

MANH has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson lowered their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial lowered 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. Citigroup lowered their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Piper Sandler reissued an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.