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

February 15, 2018 - By Kurt Siggers

Investors sentiment increased to 1.33 in 2017 Q3. 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.
26,686 were reported by Oppenheimer Asset Mgmt. Advisory Services Network Llc holds 203 shares or 0% of its portfolio. Aqr Mngmt Ltd Liability reported 0.03% stake. Schwab Charles Investment Mgmt reported 362,661 shares. Teacher Retirement System Of Texas holds 0% in Manhattan Associates, Inc. (NASDAQ:MANH) or 5,729 shares. The Pennsylvania-based Commonwealth Of Pennsylvania Pub School Empls Retrmt has invested 0.01% in Manhattan Associates, Inc. (NASDAQ:MANH). Moreover, Mason Street Ltd Liability Company has 0.03% invested in Manhattan Associates, Inc. (NASDAQ:MANH). Pnc Financial Group reported 3,912 shares. West Coast Finance Limited Liability Co holds 0.71% or 62,797 shares in its portfolio. Stephens Investment Mngmt Lc holds 0.64% of its portfolio in Manhattan Associates, Inc. (NASDAQ:MANH) for 665,482 shares. Etrade Capital Management Llc has invested 0.02% in Manhattan Associates, Inc. (NASDAQ:MANH). 227,416 were reported by Ahl Prtn Ltd Liability Partnership. First Quadrant Lp Ca holds 16,770 shares. Fdx Advsrs reported 42,442 shares. Ngam L P holds 0.06% in Manhattan Associates, Inc. (NASDAQ:MANH) or 142,278 shares.

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 company was maintained on Wednesday, February 7 by SunTrust. As per Monday, January 9, the company rating was downgraded by Raymond James. Brean Capital initiated Manhattan Associates, Inc. (NASDAQ:MANH) on Tuesday, January 12 with “Buy” rating. KeyBanc Capital Markets maintained the shares of MANH in report on Wednesday, August 23 with “Hold” rating. William Blair initiated the shares of MANH in report on Tuesday, September 29 with “Outperform” rating. Lake Street initiated the stock with “Buy” rating in Monday, October 19 report. Benchmark maintained Manhattan Associates, Inc. (NASDAQ:MANH) rating on Wednesday, July 22. Benchmark has “Buy” rating and $67 target. On Thursday, April 28 the stock rating was downgraded by William Blair to “Market Perform”. The rating was maintained by Benchmark with “Buy” on Wednesday, October 21. Benchmark maintained the stock with “Buy” rating in Wednesday, February 1 report.

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

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