Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Manhattan Associates, Inc. shares valued at $1,022,682 were sold by Richards Bruce on Mar 06 ’24. At $255.67 per share, Richards Bruce sold 4,000 shares. The insider’s holdings dropped to 30,236 shares worth approximately $6.97 million following the completion of this transaction.
Also, Gantt James Stewart sold 4,000 shares, netting a total of over 1,003,142 in proceeds. Following the sale of shares at $250.79 each, the insider now holds 52,287 shares.
Before that, Capel Eddie had sold 5,902 shares from its account. In a trade valued at $1,485,599, the President & CEO traded Manhattan Associates, Inc. shares for $251.71 each. Upon closing the transaction, the insider’s holdings decreased to 5,902 shares, worth approximately $44.5 million.
As published in their initiating research note from Citigroup on March 13, 2024, Manhattan Associates, Inc. [MANH] has been a Neutral and the price target has been revised to $260. Analysts at Rosenblatt downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid April. As of February 22, 2023, DA Davidson has initiated its “Neutral” rating for MANH. Earlier on March 22, 2022, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for MANH stock which previously was a “a Mkt perform”.
Analyzing MANH Stock Performance
During the last five days, there has been a drop of approximately -3.85%. Over the course of the year, Manhattan Associates, Inc. shares have jumped approximately 7.02%. Shares of the company reached a 52-week high of $266.94 on 03/08/24 and a 52-week low of $199.23 on 01/05/24. A 50-day SMA is recorded $247.08, while a 200-day SMA reached $216.47. Nevertheless, trading volume fell to 0.55 million shares from 0.33 million shares the previous day.
Support And Resistance Levels for Manhattan Associates, Inc. (MANH)
According to the 24-hour chart, there is a support level at 228.16, which, if violated, would cause prices to drop to 225.87. In the upper region, resistance lies at 232.36. The next price resistance is at 234.28. RSI (Relative Strength Index) is 31.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.43, which suggests the price will decrease in the coming days. Percent R is at 88.75%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
