CI Investments Inc. Reduces Stake in Manchester United Ltd. $MANU

CI Investments Inc. cut its stake in Manchester United Ltd. (NYSE:MANU) by 30.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 356,728 shares of the company’s stock after selling 153,297 shares during the quarter. CI Investments Inc. owned about 0.21% of Manchester United worth $5,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Manchester United during the second quarter worth about $29,000. Quantbot Technologies LP boosted its holdings in Manchester United by 105.3% in the 2nd quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock valued at $114,000 after purchasing an additional 3,273 shares during the last quarter. Orion Porfolio Solutions LLC purchased a new stake in shares of Manchester United in the 2nd quarter valued at approximately $179,000. Savant Capital LLC acquired a new stake in shares of Manchester United during the 2nd quarter worth approximately $195,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Manchester United during the 2nd quarter valued at approximately $206,000. Institutional investors and hedge funds own 23.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Manchester United in a research report on Monday, December 22nd. Wall Street Zen lowered Manchester United from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Manchester United has a consensus rating of “Sell”.

Manchester United Stock Up 0.9%

Manchester United stock opened at $17.81 on Thursday. The company has a market capitalization of $3.07 billion, a PE ratio of -254.45 and a beta of 0.50. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.30 and a current ratio of 0.32. Manchester United Ltd. has a fifty-two week low of $12.05 and a fifty-two week high of $19.65. The firm has a 50 day moving average price of $17.07 and a 200 day moving average price of $16.51.

Manchester United (NYSE:MANU) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%.The firm had revenue of $255.92 million for the quarter, compared to analysts’ expectations of $251.72 million. Research analysts expect that Manchester United Ltd. will post -0.74 earnings per share for the current year.

Manchester United Profile

Manchester United plc is a global sports and entertainment company best known for its ownership and operation of Manchester United Football Club, one of the most prominent professional football clubs in the world. The company’s core activities include the organization and promotion of competitive football matches, management of club facilities such as Old Trafford stadium, and the development of youth and academy programs. As a publicly traded entity on the New York Stock Exchange (NYSE: MANU), Manchester United plc leverages its status to expand commercial partnerships and broaden its international footprint.

The company’s revenue streams are diversified across matchday operations, broadcast rights, commercial partnerships, and licensing and merchandising.