Seven Eight Capital LP Grows Stake in ManpowerGroup Inc. (NYSE:MAN)

Seven Eight Capital LP grew its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 98.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,870 shares of the business services provider’s stock after purchasing an additional 11,328 shares during the period. Seven Eight Capital LP’s holdings in ManpowerGroup were worth $1,596,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in ManpowerGroup in the fourth quarter valued at about $44,057,000. Pzena Investment Management LLC purchased a new position in shares of ManpowerGroup in the 2nd quarter valued at approximately $24,508,000. Capital Research Global Investors boosted its stake in ManpowerGroup by 37.5% in the 4th quarter. Capital Research Global Investors now owns 907,545 shares of the business services provider’s stock worth $72,123,000 after purchasing an additional 247,383 shares in the last quarter. Victory Capital Management Inc. grew its position in ManpowerGroup by 4.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after purchasing an additional 183,527 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in ManpowerGroup by 10.7% during the 4th quarter. Schroder Investment Management Group now owns 1,425,180 shares of the business services provider’s stock valued at $113,259,000 after purchasing an additional 137,441 shares in the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.

ManpowerGroup Price Performance

Shares of MAN opened at $73.49 on Thursday. The business’s 50-day moving average is $71.88 and its two-hundred day moving average is $73.06. The company has a market capitalization of $3.51 billion, a P/E ratio of 75.47, a P/E/G ratio of 1.78 and a beta of 1.45. ManpowerGroup Inc. has a fifty-two week low of $66.03 and a fifty-two 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 posted its earnings results on Thursday, July 18th. The business services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. ManpowerGroup had a return on equity of 11.08% and a net margin of 0.25%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the company earned $1.58 earnings per share. ManpowerGroup’s revenue for the quarter was down 6.9% compared to the same quarter last year. Research analysts predict that ManpowerGroup Inc. will post 4.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

ManpowerGroup Profile

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.