Envestnet Asset Management Inc. Invests $402,000 in Manchester United Ltd. (NYSE:MANU)

Envestnet Asset Management Inc. acquired a new position in Manchester United Ltd. (NYSE:MANU) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 30,745 shares of the company’s stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in shares of Manchester United by 55.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,131 shares of the company’s stock valued at $37,000 after purchasing an additional 758 shares in the last quarter. Vident Advisory LLC increased its holdings in Manchester United by 27.1% in the fourth quarter. Vident Advisory LLC now owns 13,535 shares of the company’s stock valued at $235,000 after purchasing an additional 2,884 shares during the period. PDT Partners LLC raised its position in shares of Manchester United by 38.3% during the fourth quarter. PDT Partners LLC now owns 23,446 shares of the company’s stock worth $407,000 after acquiring an additional 6,494 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Manchester United by 213.1% in the 4th quarter. National Bank of Canada FI now owns 9,686 shares of the company’s stock worth $168,000 after purchasing an additional 6,592 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Manchester United in the fourth quarter valued at $177,000. 23.34% of the stock is currently owned by institutional investors and hedge funds.

Manchester United Stock Performance

NYSE MANU opened at $17.99 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 2.54. The company has a fifty day simple moving average of $17.21 and a 200 day simple moving average of $15.33. Manchester United Ltd. has a 12-month low of $12.05 and a 12-month high of $19.65. The company has a market cap of $3.05 billion, a P/E ratio of -36.71 and a beta of 0.71.

Manchester United (NYSE:MANU) last issued its quarterly earnings data on Friday, June 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.29. Manchester United had a negative return on equity of 22.40% and a negative net margin of 10.09%. The firm had revenue of $203.10 million during the quarter, compared to the consensus estimate of $159.13 million. During the same period in the prior year, the business posted ($0.24) earnings per share. Sell-side analysts predict that Manchester United Ltd. will post -0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Manchester United from a “sell” rating to a “hold” rating in a research report on Saturday, May 31st.

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.