Manchester United (NYSE:MANU – Get Free Report) was upgraded by StockNews.com to a “sell” rating in a report released on Monday.
Separately, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Manchester United from $20.30 to $16.00 and set a “hold” rating on the stock in a report on Thursday, March 14th.
Check Out Our Latest Stock Report on MANU
Manchester United Stock Performance
Manchester United (NYSE:MANU – Get Free Report) last released its earnings results on Tuesday, March 12th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.32. The business had revenue of $280.37 million for the quarter, compared to analyst estimates of $245.09 million. Manchester United had a negative net margin of 1.98% and a negative return on equity of 12.29%. Sell-side analysts forecast that Manchester United will post -0.37 EPS for the current year.
Hedge Funds Weigh In On Manchester United
Several institutional investors have recently made changes to their positions in the stock. Byrne Asset Management LLC raised its holdings in shares of Manchester United by 40.1% during the fourth quarter. Byrne Asset Management LLC now owns 2,830 shares of the company’s stock valued at $58,000 after purchasing an additional 810 shares during the period. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 2,052 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Manchester United in the 3rd quarter worth about $59,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Manchester United by 7.4% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 51,400 shares of the company’s stock worth $1,017,000 after acquiring an additional 3,550 shares during the last quarter. Finally, TIG Advisors LLC raised its holdings in shares of Manchester United by 113.0% in the 4th quarter. TIG Advisors LLC now owns 29,295 shares of the company’s stock worth $597,000 after acquiring an additional 15,539 shares during the last quarter. Institutional investors and hedge funds own 23.34% of the company’s stock.
Manchester United Company Profile
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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