ManpowerGroup (MAN): The stock had negative money flow to the tune of ($19.51 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $12.67 million, whereas, the outflow of money on downticks was $32.18 million and the ratio between the two was 0.39. The block trade had a negative net money flow of ($20.17 million). On the other hand, downticks amounted to $20.17 million of the traded value, which shows distribution in the stock by traders. ManpowerGroup (MAN) closed with marginal gains of 141 cents to end the day at $68.87, an increase of 2.09% over the previous days close. The stock recorded 1.88% for the week.
Also, Brokerage firm Barclays downgrades its rating on ManpowerGroup (NYSE:MAN). As per the latest information, the brokerage house lowers the price target to $65 per share from a prior target of $85. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by the firm was issued on July 1, 2016.
ManpowerGroup (NYSE:MAN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $67.58 and $66.93 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $69.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $68.87, notching a gain of 2.09% for the day. The total traded volume was 1,214,403 . The stock had closed at $67.46 on the previous day.
The stock has recorded a 20-day Moving Average of 4.47% and the 50-Day Moving Average is 5.29%. In a related news, The Securities and Exchange Commission has divulged that Chandrashekar Sriram, officer (EVP) of Manpowergroup Inc., had unloaded 3,045 shares at an average price of $81.25 in a transaction dated on April 26, 2016. The total value of the transaction was worth $247,406.
ManpowerGroup Inc. is a Germany-based provider of workforce solutions and services. Its services include recruitment and assessment, career management, outsourcing, workforce consulting, and training and development, including training courses and leadership development solutions. The Company provides clients with outsourcing services related to human resources functions primarily in the areas of recruiting and workforce-intensive initiatives. It operates through various brands, including Manpower, Experis, Right Management, and ManpowerGroup Solutions, and is divided into five segments: Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), and Right Management. The Right Management segment focuses on outplacement services, career management consulting, leadership development and cooperates with students and universities.