Squarepoint Ops LLC Sells 86,079 Shares of ManpowerGroup Inc. (NYSE:MAN)

Squarepoint Ops LLC cut its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 58.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,368 shares of the business services provider’s stock after selling 86,079 shares during the period. Squarepoint Ops LLC owned 0.13% of ManpowerGroup worth $4,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAN. Abich Financial Wealth Management LLC increased its holdings in shares of ManpowerGroup by 62.4% in the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock worth $45,000 after purchasing an additional 224 shares during the period. FinTrust Capital Advisors LLC purchased a new position in ManpowerGroup during the first quarter worth about $47,000. Advisors Asset Management Inc. bought a new position in ManpowerGroup in the 1st quarter worth about $49,000. Headlands Technologies LLC purchased a new stake in shares of ManpowerGroup in the 2nd quarter valued at about $47,000. Finally, Innealta Capital LLC bought a new stake in shares of ManpowerGroup during the 2nd quarter valued at about $50,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Price Performance

MAN stock opened at $73.52 on Tuesday. The firm has a market cap of $3.51 billion, a P/E ratio of 75.79 and a beta of 1.45. The firm’s fifty day moving average is $72.32 and its 200 day moving average is $73.04. ManpowerGroup Inc. has a 52 week low of $66.03 and a 52 week high of $80.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.14 and a current ratio of 1.14.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.53 billion. ManpowerGroup had a return on equity of 11.08% and a net margin of 0.25%. ManpowerGroup’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 EPS. Research analysts predict that ManpowerGroup Inc. will post 4.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MAN shares. BMO Capital Markets raised their target price on shares of ManpowerGroup from $80.00 to $87.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. dropped their price objective on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, BNP Paribas raised ManpowerGroup from an “underperform” rating to an “outperform” rating and set a $92.00 target price on the stock in a research note on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, ManpowerGroup has an average rating of “Hold” and an average target price of $82.40.

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.