Hedge Funds Are Dumping Manhattan Associates, Inc. (MANH)

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We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. At the top of the heap, Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners dropped the biggest position of the 700 funds tracked by Insider Monkey, worth an estimated $3.3 million in stock. Ken Griffin’s fund, Citadel Investment Group, also cut its call options, about $1.5 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Manhattan Associates, Inc. (NASDAQ:MANH) but similarly valued. We will take a look at Commerce Bancshares, Inc. (NASDAQ:CBSH), Cheniere Energy Partners LP Holdings LLC (NYSEMKT:CQH), Manpowergroup Inc (NYSE:MAN), and Veeva Systems Inc (NYSE:VEEV). This group of stocks’ market caps resemble MANH’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CBSH 8 61038 2
CQH 19 541571 6
MAN 29 447052 5
VEEV 23 254286 2

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $326 million. That figure was $205 million in MANH’s case. Manpowergroup Inc (NYSE:MAN) is the most popular stock in this table. On the other hand Commerce Bancshares, Inc. (NASDAQ:CBSH) is the least popular one with only 8 bullish hedge fund positions. Manhattan Associates, Inc. (NASDAQ:MANH) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MAN might be a better candidate to consider taking a long position in.

Disclosure: None

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