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

Consequently, some big names have been driving this bullishness. Millennium Management, managed by Israel Englander, assembled the biggest position in Manhattan Associates, Inc. (NASDAQ:MANH). Millennium Management had $6.1 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $2 million position during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, Peter Muller’s PDT Partners, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

Let’s check out hedge fund activity in other stocks similar to Manhattan Associates, Inc. (NASDAQ:MANH). We will take a look at Empire State Realty Trust Inc (NYSE:ESRT), Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR), Howard Hughes Corp (NYSE:HHC), and Legg Mason, Inc. (NYSE:LM). This group of stocks’ market valuations are similar to MANH’s market valuation.

As you can see these stocks had an average of 20.25 hedge funds with bullish positions and the average amount invested in these stocks was $685 million. That figure was $225 million in MANH’s case. Howard Hughes Corp (NYSE:HHC) is the most popular stock in this table. On the other hand Grupo Aeroportuario del Sureste (ADR) (NYSE:ASR) is the least popular one with only 6 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 HHC might be a better candidate to consider for a long position.