Pinnacle Associates Ltd. lifted its holdings in shares of Manchester United Ltd. (NYSE:MANU – Free Report) by 30.4% in the 4th quarter, HoldingsChannel reports. The fund owned 1,404,151 shares of the company’s stock after purchasing an additional 327,553 shares during the period. Pinnacle Associates Ltd.’s holdings in Manchester United were worth $22,354,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MANU. Raymond James Financial Inc. bought a new stake in shares of Manchester United during the second quarter worth about $29,000. Garner Asset Management Corp bought a new stake in shares of Manchester United during the fourth quarter worth about $97,000. Quantbot Technologies LP increased its position in shares of Manchester United by 105.3% during the second quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock worth $114,000 after acquiring an additional 3,273 shares in the last quarter. Saranac Partners Ltd bought a new stake in shares of Manchester United during the third quarter worth about $169,000. Finally, Orion Porfolio Solutions LLC bought a new stake in shares of Manchester United during the second quarter worth about $179,000. 23.34% of the stock is owned by institutional investors.
Manchester United Trading Up 0.9%
Shares of MANU stock opened at $18.82 on Thursday. Manchester United Ltd. has a 52-week low of $13.22 and a 52-week high of $19.92. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.30 and a current ratio of 0.32. The company has a 50-day simple moving average of $17.40 and a two-hundred day simple moving average of $16.81. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -268.88 and a beta of 0.59.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen downgraded shares of Manchester United from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
View Our Latest Stock Report on Manchester United
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.
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