Harvey Partners LLC Boosts Stake in Manchester United Ltd. $MANU

Harvey Partners LLC lifted its stake in shares of Manchester United Ltd. (NYSE:MANU) by 15.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,102,500 shares of the company’s stock after acquiring an additional 150,802 shares during the period. Harvey Partners LLC’s holdings in Manchester United were worth $16,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Manchester United by 65.0% during the first quarter. Royal Bank of Canada now owns 77,687 shares of the company’s stock valued at $1,017,000 after purchasing an additional 30,604 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Manchester United by 156.3% in the 1st quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock worth $374,000 after purchasing an additional 79,290 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Manchester United by 105.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 63,042 shares of the company’s stock valued at $1,123,000 after purchasing an additional 32,297 shares during the last quarter. Savant Capital LLC bought a new position in shares of Manchester United during the 2nd quarter valued at about $195,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Manchester United by 10.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 207,731 shares of the company’s stock valued at $3,700,000 after buying an additional 20,251 shares in the last quarter. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

Manchester United Stock Performance

NYSE MANU opened at $16.04 on Monday. The company has a 50-day simple moving average of $17.21 and a two-hundred day simple moving average of $16.48. The company has a quick ratio of 0.30, a current ratio of 0.32 and a debt-to-equity ratio of 2.52. Manchester United Ltd. has a 12-month low of $12.05 and a 12-month high of $19.65. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -229.11 and a beta of 0.50.

Manchester United (NYSE:MANU) last released its quarterly earnings data 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 company had revenue of $255.92 million during the quarter, compared to analysts’ expectations of $251.72 million. On average, equities analysts forecast that Manchester United Ltd. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Manchester United in a research report on Monday, December 22nd. Wall Street Zen cut shares of Manchester United from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

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.