Profit Investment Management Lowers stake in ManpowerGroup (MAN)

ManpowerGroup (MAN) : Profit Investment Management reduced its stake in ManpowerGroup by 28.75% during the most recent quarter end. The investment management company now holds a total of 15,413 shares of ManpowerGroup which is valued at $1,105,729 after selling 6,219 shares in ManpowerGroup , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.ManpowerGroup makes up approximately 1.12% of Profit Investment Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in MAN in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 1,627 shares of ManpowerGroup which is valued at $116,721.Nisa Investment Advisors boosted its stake in MAN in the latest quarter, The investment management firm added 2,503 additional shares and now holds a total of 19,243 shares of ManpowerGroup which is valued at $1,384,341. ManpowerGroup makes up approx 0.02% of Nisa Investment Advisors’s portfolio.British Columbia Investment Management Corp reduced its stake in MAN by selling 6,118 shares or 10.43% in the most recent quarter. The Hedge Fund company now holds 52,549 shares of MAN which is valued at $3,780,375. ManpowerGroup makes up approx 0.04% of British Columbia Investment Management Corp’s portfolio.Trinity Street Asset Management Llp reduced its stake in MAN by selling 184,687 shares or 89.92% in the most recent quarter. The Hedge Fund company now holds 20,712 shares of MAN which is valued at $1,532,067. ManpowerGroup makes up approx 0.27% of Trinity Street Asset Management Llp’s portfolio. Cutler Group Lp sold out all of its stake in MAN during the most recent quarter. The investment firm sold 609 shares of MAN which is valued $45,048.

ManpowerGroup closed down -2.03 points or -2.74% at $71.94 with 6,61,342 shares getting traded on Tuesday. Post opening the session at $73.7, the shares hit an intraday low of $71.82 and an intraday high of $74.04 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, ManpowerGroup reported $1.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $1.52. The company had revenue of $5022.10 million for the quarter, compared to analysts expectations of $5060.06 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Many Wall Street Analysts have commented on ManpowerGroup. Macquarie Initiated ManpowerGroup on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $86.Deutsche Bank Initiated ManpowerGroup on Aug 18, 2016 to “Hold”, Price Target of the shares are set at $77.

ManpowerGroup Inc. is a provider of workforce solutions and services. The Company’s segments are Americas Southern Europe Northern Europe Asia Pacific Middle East (APME) and Right Management. The Americas segment includes operations in the United States and other Americas. The Southern Europe segment includes the operations in France Italy and other Southern Europe. The Northern Europe segment includes operations in the United Kingdom the Nordics Germany and the Netherlands. It provides placement of contingent workers in the Americas Southern Europe Northern Europe and APME segments. It offers other workforce solutions and services including recruitment and assessment; training and development and ManpowerGroup solutions. The Right Management segment offers career management and workforce consulting services. The Company offers various brands including Manpower Experis Right Management and ManpowerGroup Solutions.

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