SummerHaven Investment Management LLC Increases Position in ManpowerGroup Inc. (NYSE:MAN)

SummerHaven Investment Management LLC increased its holdings in ManpowerGroup Inc. (NYSE:MAN) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,701 shares of the business services provider’s stock after buying an additional 138 shares during the period. SummerHaven Investment Management LLC’s holdings in ManpowerGroup were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. UBS Group AG grew its stake in ManpowerGroup by 88.3% in the 3rd quarter. UBS Group AG now owns 52,185 shares of the business services provider’s stock valued at $3,826,000 after purchasing an additional 24,466 shares during the period. ING Groep NV purchased a new position in shares of ManpowerGroup in the 3rd quarter worth about $1,019,000. Teachers Retirement System of The State of Kentucky grew its position in ManpowerGroup by 91.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,437 shares of the business services provider’s stock valued at $1,278,000 after buying an additional 8,318 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in ManpowerGroup during the third quarter worth about $1,603,000. Finally, Quantbot Technologies LP raised its position in ManpowerGroup by 376.8% in the third quarter. Quantbot Technologies LP now owns 23,688 shares of the business services provider’s stock worth $1,737,000 after acquiring an additional 18,720 shares during the period. 98.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MAN shares. StockNews.com downgraded shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on ManpowerGroup from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Truist Financial upped their price target on ManpowerGroup from $75.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. BMO Capital Markets lifted their price objective on ManpowerGroup from $81.00 to $84.00 and gave the stock a “market perform” rating in a report on Monday, April 22nd. Finally, William Blair started coverage on shares of ManpowerGroup in a report on Monday, January 8th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ManpowerGroup presently has a consensus rating of “Hold” and an average price target of $83.00.

ManpowerGroup Price Performance

Shares of NYSE:MAN opened at $76.16 on Tuesday. The company has a 50 day moving average of $73.79 and a 200 day moving average of $74.49. The company has a current ratio of 1.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.68 billion, a P/E ratio of 78.52, a P/E/G ratio of 1.59 and a beta of 1.54. ManpowerGroup Inc. has a 12 month low of $67.35 and a 12 month high of $88.91.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, April 18th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. ManpowerGroup had a net margin of 0.27% and a return on equity of 11.45%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the business earned $1.61 EPS. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that ManpowerGroup Inc. will post 4.99 EPS for the current fiscal year.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.