Lancaster Investment Management Invests $9.09 Million in Manchester United plc (NYSE:MANU)

Lancaster Investment Management purchased a new position in shares of Manchester United plc (NYSE:MANU - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 562,071 shares of the company's stock, valued at approximately $9,094,000. Manchester United makes up approximately 5.7% of Lancaster Investment Management's holdings, making the stock its 6th biggest holding. Lancaster Investment Management owned approximately 0.33% of Manchester United as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Ariel Investments LLC lifted its holdings in Manchester United by 50.9% during the 2nd quarter. Ariel Investments LLC now owns 8,007,070 shares of the company's stock worth $129,234,000 after buying an additional 2,700,337 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Manchester United by 15.9% during the second quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company's stock worth $21,814,000 after purchasing an additional 185,271 shares during the last quarter. Gabelli Funds LLC boosted its holdings in 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 period. Ursa Fund Management LLC increased its stake in Manchester United by 577.1% during the first quarter. Ursa Fund Management LLC now owns 260,000 shares of the company's stock valued at $3,630,000 after purchasing an additional 221,600 shares during the last quarter. Finally, Simplicity Wealth LLC raised its holdings in shares of Manchester United by 1.5% during the second quarter. Simplicity Wealth LLC now owns 232,370 shares of the company's stock worth $3,750,000 after purchasing an additional 3,483 shares during the period. 23.34% of the stock is owned by institutional investors and hedge funds.

Manchester United Stock Performance

Shares of Manchester United stock traded down $0.03 on Friday, reaching $17.90. 267,182 shares of the company were exchanged, compared to its average volume of 198,447. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -20.57 and a beta of 0.69. Manchester United plc has a 1-year low of $13.50 and a 1-year high of $22.00. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.35 and a current ratio of 0.36. The company's 50-day moving average is $16.39 and its two-hundred day moving average is $16.54.

Manchester United (NYSE:MANU - Get Free Report) last posted its earnings results on Wednesday, September 11th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.02. The company had revenue of $179.43 million for the quarter, compared to analysts' expectations of $180.82 million. Manchester United had a negative return on equity of 55.05% and a negative net margin of 17.28%. As a group, research analysts expect that Manchester United plc will post -0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Manchester United from $16.00 to $18.50 and gave the company a "hold" rating in a report on Wednesday, July 24th.

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.