Is Selling Manhattan Associates, Inc. (MANH) Here a Winning Strategy? The Stock Formed Bearish Multiple Bottom Pattern

February 15, 2018 - By reb123z

Investors sentiment increased to 1.33 in Q3 2017. Its up 0.26, from 1.07 in 2017Q2. It increased, as 35 investors sold Manhattan Associates, Inc. shares while 67 reduced holdings. 35 funds opened positions while 101 raised stakes. 72.05 million shares or 1.48% less from 73.13 million shares in 2017Q2 were reported.
Arrowstreet Capital Partnership reported 25,200 shares. Turtle Creek Asset accumulated 0.14% or 10,900 shares. Iowa-based Principal Gru has invested 0.02% in Manhattan Associates, Inc. (NASDAQ:MANH). 5,401 are owned by Gideon Cap Advsrs. Vanguard Group owns 5.68 million shares or 0.01% of their US portfolio. 57,757 are owned by Bamco New York. Glenmede Tru Na stated it has 10,481 shares or 0% of all its holdings. Millennium Mngmt Lc has invested 0.01% in Manhattan Associates, Inc. (NASDAQ:MANH). Ghp Advsr has invested 0.17% in Manhattan Associates, Inc. (NASDAQ:MANH). Guggenheim Capital holds 0% or 16,380 shares. Moreover, Spectrum Mngmt Gp has 0% invested in Manhattan Associates, Inc. (NASDAQ:MANH) for 19 shares. Stephens Inv Mngmt Ltd Llc stated it has 665,482 shares or 0.64% of all its holdings. Tiaa Cref Ltd Liability accumulated 0.01% or 209,149 shares. Sg Americas Securities Ltd Liability has 19,624 shares for 0.01% of their portfolio. 97,400 are owned by Balyasny Asset Lc.

The stock of Manhattan Associates, Inc. (MANH) shows a multiple bottoms pattern with $39.68 target or 8.00 % below today’s $43.13 share price. The 5 months chart pattern indicates high risk for the $2.93B company. It was reported on Feb, 15 by Finviz.com. If the $39.68 price target is reached, the company will be worth $234.48 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.50% or $0.215 during the last trading session, reaching $43.125. About 224,981 shares traded. Manhattan Associates, Inc. (NASDAQ:MANH) has declined 22.39% since February 15, 2017 and is downtrending. It has underperformed by 39.09% the S&P500.

Manhattan Associates, Inc. (NASDAQ:MANH) Ratings Coverage

Among 7 analysts covering Manhattan Assoc (NASDAQ:MANH), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Manhattan Assoc has $80 highest and $45 lowest target. $68.40’s average target is 58.61% above currents $43.125 stock price. Manhattan Assoc had 14 analyst reports since July 22, 2015 according to SRatingsIntel. The stock of Manhattan Associates, Inc. (NASDAQ:MANH) earned “Hold” rating by KeyBanc Capital Markets on Wednesday, August 23. As per Wednesday, July 22, the company rating was maintained by Benchmark. The rating was maintained by SunTrust on Wednesday, November 15 with “Buy”. The rating was maintained by SunTrust with “Buy” on Wednesday, February 7. The stock of Manhattan Associates, Inc. (NASDAQ:MANH) has “Buy” rating given on Monday, October 19 by Lake Street. William Blair downgraded the stock to “Market Perform” rating in Thursday, April 28 report. Raymond James downgraded the stock to “Mkt Perform” rating in Monday, January 9 report. The firm has “Buy” rating given on Wednesday, October 21 by Benchmark. As per Tuesday, September 29, the company rating was initiated by William Blair. Brean Capital initiated Manhattan Associates, Inc. (NASDAQ:MANH) rating on Tuesday, January 12. Brean Capital has “Buy” rating and $74 target.

More notable recent Manhattan Associates, Inc. (NASDAQ:MANH) news were published by: Fool.com which released: “Why Manhattan Associates Inc. Stock Took a Hit Wednesday” on February 07, 2018, also Prnewswire.com with their article: “This Morning’s Technical Outlook on Application Software Stocks — LogMeIn …” published on February 14, 2018, Nasdaq.com published: “Earnings Reaction History: Manhattan Associates Inc, 83.3% Follow-Through …” on February 06, 2018. More interesting news about Manhattan Associates, Inc. (NASDAQ:MANH) were released by: Seekingalpha.com and their article: “Manhattan Associates Inc.: What Was That Pullback About Again?” published on February 14, 2018 as well as Nasdaq.com‘s news article titled: “Manhattan Associates Becomes Oversold (MANH)” with publication date: February 07, 2018.

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