Mantech International Corp (MANT) Sees Large Drop in Short Interest
Mantech International Corp (NASDAQ:MANT) saw a significant decrease in short interest in the month of December. As of December 29th, there was short interest totalling 370,561 shares, a decrease of 36.3% from the December 15th total of 582,179 shares. Based on an average daily volume of 102,581 shares, the days-to-cover ratio is currently 3.6 days. Approximately 1.4% of the shares of the company are sold short.
In other news, Director Mary K. Bush sold 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $50.45, for a total value of $50,450.00. Following the transaction, the director now directly owns 7,540 shares of the company’s stock, valued at $380,393. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth A. Minihan sold 3,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $48.66, for a total transaction of $145,980.00. Following the completion of the transaction, the director now directly owns 13,000 shares in the company, valued at $632,580. The disclosure for this sale can be found here. Insiders sold 65,500 shares of company stock worth $3,206,080 over the last three months. Insiders own 22.28% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MANT. Schwab Charles Investment Management Inc. grew its stake in Mantech International by 8.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 251,603 shares of the technology company’s stock worth $10,412,000 after buying an additional 19,763 shares in the last quarter. Legal & General Group Plc grew its stake in Mantech International by 8.8% during the second quarter. Legal & General Group Plc now owns 50,445 shares of the technology company’s stock worth $2,085,000 after buying an additional 4,093 shares in the last quarter. Prudential Financial Inc. grew its stake in Mantech International by 140.1% during the second quarter. Prudential Financial Inc. now owns 105,454 shares of the technology company’s stock worth $4,364,000 after buying an additional 61,530 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in Mantech International during the second quarter worth about $223,000. Finally, Principal Financial Group Inc. grew its stake in Mantech International by 2.5% during the second quarter. Principal Financial Group Inc. now owns 201,095 shares of the technology company’s stock worth $8,321,000 after buying an additional 4,893 shares in the last quarter. Hedge funds and other institutional investors own 63.24% of the company’s stock.
Mantech International (NASDAQ:MANT) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Mantech International had a net margin of 3.61% and a return on equity of 4.73%. The business had revenue of $422.70 million for the quarter, compared to analyst estimates of $427.44 million. During the same period last year, the firm earned $0.38 earnings per share. Mantech International’s revenue for the quarter was up 1.8% compared to the same quarter last year. equities analysts predict that Mantech International will post 1.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, December 7th. This represents a $0.84 dividend on an annualized basis and a yield of 1.62%. Mantech International’s payout ratio is 27.45%.
Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Mantech International from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research raised shares of Mantech International from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday. Loop Capital raised their price target on shares of Mantech International to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Cowen reaffirmed a “buy” rating and set a $54.00 price target on shares of Mantech International in a research report on Thursday, November 30th. Finally, Maxim Group raised their price target on shares of Mantech International from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Mantech International has a consensus rating of “Hold” and an average target price of $47.86.
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About Mantech International
ManTech International Corporation provides technologies and solutions for national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veteran Affairs and Justice, including the Federal Bureau of Investigation (FBI); the space community, and other the United States Government customers.
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