StockNews.com upgraded shares of Manchester United (NYSE:MANU – Free Report) to a sell rating in a research note released on Wednesday morning.
Separately, Deutsche Bank Aktiengesellschaft lowered their price target on Manchester United from $20.30 to $16.00 and set a hold rating on the stock in a research report on Thursday, March 14th.
Check Out Our Latest Report on MANU
Manchester United Stock Performance
Manchester United (NYSE:MANU – Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.32. The company had revenue of $280.37 million for the quarter, compared to analyst estimates of $245.09 million. Manchester United had a negative return on equity of 12.29% and a negative net margin of 1.98%. Equities analysts predict that Manchester United will post -0.37 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Manchester United
Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp grew its position in shares of Manchester United by 1.1% in the fourth quarter. Northern Trust Corp now owns 59,638 shares of the company’s stock valued at $1,215,000 after purchasing an additional 638 shares during the last quarter. Mariner LLC grew its position in shares of Manchester United by 5.6% in the fourth quarter. Mariner LLC now owns 13,545 shares of the company’s stock valued at $316,000 after purchasing an additional 724 shares during the last quarter. Byrne Asset Management LLC grew its position in shares of Manchester United by 40.1% in the fourth quarter. Byrne Asset Management LLC now owns 2,830 shares of the company’s stock valued at $58,000 after purchasing an additional 810 shares during the last quarter. State Street Corp grew its position in shares of Manchester United by 3.8% in the third quarter. State Street Corp now owns 26,868 shares of the company’s stock valued at $357,000 after purchasing an additional 993 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Manchester United by 5.6% in the fourth quarter. Legal & General Group Plc now owns 18,684 shares of the company’s stock valued at $381,000 after purchasing an additional 994 shares during the last quarter. Institutional investors and hedge funds own 23.34% of the company’s stock.
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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