Pinnacle Associates Ltd. decreased its stake in Manchester United plc (NYSE:MANU - Free Report) by 28.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 963,561 shares of the company's stock after selling 387,973 shares during the period. Pinnacle Associates Ltd. owned 0.57% of Manchester United worth $15,590,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Manchester United by 912.0% in the first quarter. BNP Paribas Financial Markets now owns 2,277 shares of the company's stock valued at $32,000 after acquiring an additional 2,052 shares during the period. Emfo LLC acquired a new stake in Manchester United during the 2nd quarter worth $50,000. Dnca Finance purchased a new position in Manchester United during the 2nd quarter worth $53,000. Nkcfo LLC acquired a new position in Manchester United in the second quarter valued at $113,000. Finally, Garner Asset Management Corp purchased a new stake in shares of Manchester United in the first quarter valued at about $153,000. 23.34% of the stock is currently owned by institutional investors and hedge funds.
Manchester United Stock Performance
Shares of Manchester United stock traded up $0.04 during trading hours on Wednesday, hitting $15.97. 156,595 shares of the company were exchanged, compared to its average volume of 751,772. 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 business has a 50-day moving average of $16.43 and a 200-day moving average of $16.44. Manchester United plc has a 1 year low of $13.50 and a 1 year high of $22.00. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -25.76 and a beta of 0.69.
Manchester United (NYSE:MANU - Get Free Report) last released its earnings results on Wednesday, September 11th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that Manchester United plc will post -0.73 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, Deutsche Bank Aktiengesellschaft raised their price target on Manchester United from $16.00 to $18.50 and gave the stock a "hold" rating in a report on Wednesday, July 24th.
View Our Latest Analysis on MANU
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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