Bleakley Financial Group LLC Sells 212,984 Shares of Manchester United plc (NYSE:MANU)

Bleakley Financial Group LLC reduced its stake in Manchester United plc (NYSE:MANU - Free Report) by 91.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,386 shares of the company's stock after selling 212,984 shares during the period. Bleakley Financial Group LLC's holdings in Manchester United were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Entropy Technologies LP acquired a new position in Manchester United in the first quarter valued at about $462,000. Ariel Investments LLC raised its stake in shares of 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 acquiring an additional 2,700,337 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Manchester United by 10.7% in the 2nd quarter. Gabelli Funds LLC now owns 377,383 shares of the company's stock worth $6,091,000 after acquiring an additional 36,507 shares in the last quarter. BNP Paribas Financial Markets grew its position in Manchester United by 912.0% during 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. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Manchester United during the 2nd quarter valued at $686,000. Institutional investors own 23.34% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft boosted their price objective on Manchester United from $16.00 to $18.50 and gave the stock a "hold" rating in a research note on Wednesday, July 24th.

Manchester United Price Performance

MANU traded up $0.17 during midday trading on Thursday, hitting $15.80. The company had a trading volume of 307,244 shares, compared to its average volume of 763,329. Manchester United plc has a twelve month low of $13.50 and a twelve month high of $22.00. The company has a market capitalization of $2.60 billion, a PE ratio of -25.48 and a beta of 0.69. 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 firm's 50-day simple moving average is $16.57 and its 200-day simple moving average is $16.40.

Manchester United (NYSE:MANU - Get Free Report) last released its quarterly earnings results on Wednesday, September 11th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. Manchester United had a negative net margin of 17.28% and a negative return on equity of 55.05%. The business had revenue of $179.43 million for the quarter, compared to analysts' expectations of $180.82 million. Equities research analysts predict that Manchester United plc will post -0.73 EPS for the current fiscal year.

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.