Ariel Investments LLC boosted its position in shares of Manchester United plc (NYSE:MANU - Free Report) by 50.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,007,070 shares of the company's stock after acquiring an additional 2,700,337 shares during the quarter. Ariel Investments LLC owned 4.86% of Manchester United worth $129,234,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. Gabelli Funds LLC increased its holdings in Manchester United by 10.7% during the second quarter. Gabelli Funds LLC now owns 377,383 shares of the company's stock valued at $6,091,000 after buying an additional 36,507 shares during the last quarter. Nkcfo LLC purchased a new stake in shares of Manchester United in the 2nd quarter worth $113,000. XTX Topco Ltd bought a new position in Manchester United in the 2nd quarter worth $364,000. Pinnacle Associates Ltd. lifted its position in Manchester United by 15.9% during the second quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company's stock valued at $21,814,000 after purchasing an additional 185,271 shares in the last quarter. Finally, Emfo LLC bought a new stake in Manchester United during the second quarter valued at about $50,000. Institutional investors own 23.34% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on MANU shares. StockNews.com raised Manchester United to a "sell" rating in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Manchester United from $16.00 to $18.50 and gave the stock a "hold" rating in a research note on Wednesday, July 24th.
Get Our Latest Stock Analysis on Manchester United
Manchester United Price Performance
Manchester United stock traded up $0.28 during mid-day trading on Thursday, hitting $16.48. The stock had a trading volume of 200,065 shares, compared to its average volume of 823,788. The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 3.53. The firm's 50 day moving average is $16.83 and its 200 day moving average is $16.10. The firm has a market capitalization of $2.71 billion, a P/E ratio of -26.10 and a beta of 0.69. Manchester United plc has a one year low of $13.50 and a one year high of $22.00.
Manchester United (NYSE:MANU - Get Free Report) last released its earnings results on Wednesday, July 10th. The company reported ($0.31) earnings per share (EPS) for the quarter. Manchester United had a negative return on equity of 55.05% and a negative net margin of 17.28%. The business had revenue of $173.36 million for the quarter. On average, sell-side analysts forecast that Manchester United plc will post -0.73 earnings per share for the current fiscal year.
About Manchester United
(
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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