ManpowerGroup Inc. (NYSE:MAN) Short Interest Update

ManpowerGroup Inc. (NYSE:MAN) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 3,190,000 shares, an increase of 18.1% from the February 13th total of 2,700,000 shares. Currently, 7.0% of the shares of the company are short sold. Based on an average daily volume of 815,400 shares, the days-to-cover ratio is currently 3.9 days.

ManpowerGroup Stock Performance

MAN traded down $0.95 on Wednesday, hitting $59.76. 100,137 shares of the company traded hands, compared to its average volume of 528,075. The stock has a market capitalization of $2.79 billion, a PE ratio of 19.98 and a beta of 1.43. The company has a 50 day moving average of $57.99 and a 200-day moving average of $62.69. ManpowerGroup has a 12-month low of $53.31 and a 12-month high of $78.87. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On ManpowerGroup

Several hedge funds and other institutional investors have recently bought and sold shares of MAN. GSA Capital Partners LLP acquired a new position in ManpowerGroup during the third quarter worth $205,000. Empowered Funds LLC raised its holdings in ManpowerGroup by 51.2% during the third quarter. Empowered Funds LLC now owns 11,190 shares of the business services provider’s stock worth $823,000 after purchasing an additional 3,789 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in ManpowerGroup by 346.2% during the third quarter. Thrivent Financial for Lutherans now owns 51,855 shares of the business services provider’s stock worth $3,812,000 after purchasing an additional 40,234 shares during the last quarter. Strengthening Families & Communities LLC raised its holdings in ManpowerGroup by 10.7% during the third quarter. Strengthening Families & Communities LLC now owns 5,152 shares of the business services provider’s stock worth $379,000 after purchasing an additional 499 shares during the last quarter. Finally, Commerce Bank raised its holdings in ManpowerGroup by 4.1% during the third quarter. Commerce Bank now owns 4,272 shares of the business services provider’s stock worth $314,000 after purchasing an additional 167 shares during the last quarter. 98.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MAN shares. JPMorgan Chase & Co. decreased their target price on ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Barclays decreased their target price on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, January 3rd. UBS Group decreased their target price on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial reaffirmed a “hold” rating and set a $70.00 price objective (down from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, ManpowerGroup has a consensus rating of “Hold” and a consensus price target of $69.33.

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.