Natixis Advisors L.P. lessened its stake in shares of Manchester United plc (NYSE:MANU – Free Report) by 25.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,015 shares of the company’s stock after selling 9,927 shares during the quarter. Natixis Advisors L.P.’s holdings in Manchester United were worth $643,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citigroup Inc. lifted its holdings in shares of Manchester United by 4,255.3% during the first quarter. Citigroup Inc. now owns 3,310 shares of the company’s stock worth $48,000 after purchasing an additional 3,234 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Manchester United by 27.4% during the first quarter. Federated Hermes Inc. now owns 135,000 shares of the company’s stock worth $1,953,000 after purchasing an additional 29,000 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Manchester United by 6.3% during the first quarter. Gabelli Funds LLC now owns 218,000 shares of the company’s stock worth $3,154,000 after purchasing an additional 13,000 shares during the period. Northern Trust Corp lifted its holdings in shares of Manchester United by 37.0% during the first quarter. Northern Trust Corp now owns 126,776 shares of the company’s stock worth $1,835,000 after purchasing an additional 34,235 shares during the period. Finally, Ariel Investments LLC lifted its holdings in shares of Manchester United by 12.4% during the first quarter. Ariel Investments LLC now owns 12,289,486 shares of the company’s stock worth $177,829,000 after purchasing an additional 1,355,427 shares during the period. Institutional investors own 23.34% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on MANU. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Manchester United from $24.00 to $25.00 in a report on Tuesday, June 27th. Jefferies Financial Group boosted their target price on shares of Manchester United from $25.00 to $26.00 in a report on Tuesday, June 27th. StockNews.com assumed coverage on shares of Manchester United in a report on Thursday, August 17th. They issued a “sell” rating on the stock. 888 restated a “maintains” rating on shares of Manchester United in a report on Tuesday, June 27th. Finally, SpectralCast restated a “maintains” rating on shares of Manchester United in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to MarketBeat.com, Manchester United presently has an average rating of “Hold” and an average price target of $25.50.
Manchester United Price Performance
Shares of NYSE MANU opened at $19.77 on Thursday. The firm’s 50-day moving average price is $22.75 and its 200-day moving average price is $21.70. Manchester United plc has a 1-year low of $12.16 and a 1-year high of $27.34. The firm has a market capitalization of $3.26 billion, a P/E ratio of -27.07 and a beta of 0.70. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 4.99.
Manchester United (NYSE:MANU – Get Free Report) last announced its quarterly earnings data on Tuesday, June 27th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Manchester United had a negative net margin of 16.59% and a negative return on equity of 46.66%. The company had revenue of $206.60 million for the quarter, compared to analyst estimates of $169.66 million. Equities research analysts anticipate that Manchester United plc will post -0.2 earnings per share 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.
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