ManpowerGroup Inc. (NYSE:MAN) EVP Sriram Chandrashekar Sells 6,789 Shares

ManpowerGroup Inc. (NYSE:MAN) EVP Sriram Chandrashekar sold 6,789 shares of ManpowerGroup stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $89.30, for a total value of $606,257.70. Following the completion of the transaction, the executive vice president now owns 3,232 shares of the company’s stock, valued at $288,617.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of MAN stock opened at $89.62 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.48 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $84.42 and a two-hundred day moving average of $88.79. ManpowerGroup Inc. has a 52 week low of $61.57 and a 52 week high of $97.96. The company has a market cap of $5.19 billion, a P/E ratio of 10.01, a PEG ratio of 5.89 and a beta of 1.58.

ManpowerGroup declared that its Board of Directors has approved a share buyback plan on Friday, August 2nd that authorizes the company to repurchase 6,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

A number of research firms recently commented on MAN. Robert W. Baird set a $101.00 price target on ManpowerGroup and gave the stock a “buy” rating in a research note on Friday, October 18th. ValuEngine downgraded ManpowerGroup from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on ManpowerGroup from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Credit Suisse Group decreased their price target on ManpowerGroup from $82.00 to $78.00 and set an “underperform” rating for the company in a research note on Friday, October 18th. They noted that the move was a valuation call. Finally, Royal Bank of Canada decreased their price target on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $94.57.

A number of hedge funds have recently modified their holdings of MAN. Parallel Advisors LLC boosted its stake in ManpowerGroup by 144.4% in the second quarter. Parallel Advisors LLC now owns 352 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 208 shares during the period. CWM LLC raised its holdings in shares of ManpowerGroup by 114.4% during the second quarter. CWM LLC now owns 373 shares of the business services provider’s stock valued at $36,000 after buying an additional 199 shares during the last quarter. Destination Wealth Management bought a new stake in shares of ManpowerGroup during the second quarter valued at approximately $58,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of ManpowerGroup during the second quarter valued at approximately $95,000. Finally, Machina Capital S.A.S. raised its holdings in shares of ManpowerGroup by 273.5% during the second quarter. Machina Capital S.A.S. now owns 1,042 shares of the business services provider’s stock valued at $101,000 after buying an additional 763 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

ManpowerGroup Company Profile

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.

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