Gabelli Funds LLC increased its stake in Manchester United plc (NYSE:MANU - Free Report) by 10.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 377,383 shares of the company's stock after buying an additional 36,507 shares during the quarter. Gabelli Funds LLC owned about 0.23% of Manchester United worth $6,091,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the company. Accuvest Global Advisors acquired a new position in shares of Manchester United in the 4th quarter valued at about $703,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Manchester United by 94.7% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,100 shares of the company's stock worth $2,040,000 after buying an additional 48,700 shares during the last quarter. Eminence Capital LP boosted its holdings in shares of Manchester United by 14.8% during the fourth quarter. Eminence Capital LP now owns 4,870,944 shares of the company's stock valued at $99,270,000 after acquiring an additional 627,283 shares during the period. Mark Asset Management LP bought a new stake in Manchester United in the 4th quarter valued at about $1,019,000. Finally, TIG Advisors LLC grew its position in 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 purchasing an additional 15,539 shares during the last quarter. Hedge funds and other institutional investors own 23.34% of the company's stock.
Manchester United Stock Performance
Manchester United stock traded up $0.18 on Wednesday, reaching $16.18. 195,845 shares of the stock were exchanged, compared to its average volume of 827,160. Manchester United plc has a twelve month low of $13.50 and a twelve month high of $22.00. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 3.53. The firm has a fifty day moving average price of $16.84 and a two-hundred day moving average price of $16.10.
Manchester United (NYSE:MANU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 10th. The company reported ($0.31) earnings per share for the quarter. The company had revenue of $173.36 million during the quarter. Manchester United had a negative net margin of 17.28% and a negative return on equity of 55.05%. As a group, analysts expect that Manchester United plc will post -0.73 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on MANU. Deutsche Bank Aktiengesellschaft upped their target price on Manchester United from $16.00 to $18.50 and gave the stock a "hold" rating in a research report on Wednesday, July 24th. StockNews.com raised Manchester United to a "sell" rating in a report on Tuesday, June 18th.
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Manchester United Company Profile
(
Free Report)
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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