StockNews.com upgraded shares of Manchester United (NYSE:MANU – Free Report) to a sell rating in a report released on Monday.
Separately, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Manchester United from $20.30 to $16.00 and set a hold rating on the stock in a research note on Thursday, March 14th.
Get Our Latest Analysis on Manchester United
Manchester United Stock Up 1.7 %
Manchester United (NYSE:MANU – Get Free Report) last posted its quarterly earnings data on Tuesday, March 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.32. Manchester United had a negative return on equity of 12.29% and a negative net margin of 1.98%. The company had revenue of $280.37 million for the quarter, compared to the consensus estimate of $245.09 million. As a group, equities analysts anticipate that Manchester United will post -0.37 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC lifted its stake in Manchester United by 40.1% during the fourth quarter. Byrne Asset Management LLC now owns 2,830 shares of the company’s stock worth $58,000 after purchasing an additional 810 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Manchester United by 912.0% in the 1st quarter. BNP Paribas Financial Markets now owns 2,277 shares of the company’s stock worth $32,000 after buying an additional 2,052 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Manchester United in the 3rd quarter valued at about $59,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Manchester United by 7.4% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 51,400 shares of the company’s stock valued at $1,017,000 after buying an additional 3,550 shares during the last quarter. Finally, TIG Advisors LLC grew its position in shares of Manchester United by 113.0% during the 4th quarter. TIG Advisors LLC now owns 29,295 shares of the company’s stock valued at $597,000 after buying an additional 15,539 shares during the last quarter. Institutional investors and hedge funds own 23.34% of the company’s stock.
About Manchester United
Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand.
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