StockNews.com Upgrades Manchester United (NYSE:MANU) to Sell

Manchester United (NYSE:MANU) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Tuesday.

Separately, UBS Group began coverage on shares of Manchester United in a research note on Tuesday, December 17th. They set a “buy” rating and a $23.00 price objective for the company.

Manchester United Stock Down 2.0 %

Manchester United stock opened at $16.06 on Tuesday. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -24.33 and a beta of 0.66. The firm has a 50 day simple moving average of $16.97 and a 200 day simple moving average of $16.79. Manchester United has a 1-year low of $13.50 and a 1-year high of $22.00. The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 3.25.

Institutional Investors Weigh In On Manchester United

Several hedge funds have recently added to or reduced their stakes in MANU. Ariel Investments LLC lifted its position in Manchester United by 50.9% in the second quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock valued at $129,234,000 after purchasing an additional 2,700,337 shares during the last quarter. Harvey Partners LLC grew its stake in shares of Manchester United by 156.9% in the third quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock worth $11,973,000 after acquiring an additional 452,000 shares during the last quarter. Janus Henderson Group PLC increased its stake in Manchester United by 24.5% during the 3rd quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock valued at $9,950,000 after purchasing an additional 121,211 shares in the last quarter. Lancaster Investment Management bought a new stake in shares of Manchester United during the third quarter valued at approximately $9,094,000. Finally, Gabelli Funds LLC raised its stake in shares of Manchester United by 10.7% in the second quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock worth $6,091,000 after purchasing an additional 36,507 shares during the last quarter. Institutional investors 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.