StockNews.com upgraded shares of Manchester United (NYSE:MANU – Free Report) to a sell rating in a report published on Monday.
Separately, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Manchester United from $20.30 to $16.00 and set a hold rating for the company in a research note on Thursday, March 14th.
Check Out Our Latest Analysis on MANU
Manchester United Stock Down 2.4 %
Manchester United (NYSE:MANU – Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.32. Manchester United had a negative return on equity of 12.29% and a negative net margin of 1.98%. The firm had revenue of $280.37 million during the quarter, compared to analysts’ expectations of $245.09 million. As a group, analysts forecast that Manchester United will post -0.37 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Manchester United
A number of hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in Manchester United by 74.1% in the third quarter. Barclays PLC now owns 184,918 shares of the company’s stock valued at $3,660,000 after buying an additional 78,684 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Manchester United by 290.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 373,964 shares of the company’s stock worth $7,401,000 after acquiring an additional 278,111 shares during the last quarter. Bamco Inc. NY boosted its position in shares of Manchester United by 57.3% during the 3rd quarter. Bamco Inc. NY now owns 1,169,398 shares of the company’s stock worth $23,142,000 after purchasing an additional 426,040 shares during the period. Eminence Capital LP increased its holdings in Manchester United by 7.1% in the 3rd quarter. Eminence Capital LP now owns 4,243,661 shares of the company’s stock valued at $83,982,000 after purchasing an additional 279,487 shares during the last quarter. Finally, Senvest Management LLC purchased a new stake in Manchester United in the fourth quarter valued at approximately $8,487,000. 23.34% of the stock is currently owned by hedge funds and other institutional investors.
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.
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