Zacks Investment Research Downgrades Manchester United (MANU) to Hold

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Manchester United (NYSE:MANU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Manchester United PLC operates a professional sports team. The Company manages the soccer team and all affiliated club activities of the Manchester United Football Club that includes the media network, foundation, fan zone, news and sports features, and team merchandise. Manchester United PLC is based in Manchester, United Kingdom. “

MANU has been the subject of several other research reports. Deutsche Bank set a $20.00 target price on Manchester United and gave the stock a “hold” rating in a research report on Wednesday, February 20th. ValuEngine cut Manchester United from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Manchester United presently has a consensus rating of “Hold” and an average target price of $22.75.

Shares of Manchester United stock opened at $18.79 on Thursday. The firm has a market capitalization of $753.25 million, a PE ratio of 134.21, a price-to-earnings-growth ratio of 4.35 and a beta of 0.62. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.11. Manchester United has a 12 month low of $16.91 and a 12 month high of $27.70.

Manchester United (NYSE:MANU) last issued its earnings results on Thursday, May 16th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. The business had revenue of $152.10 million during the quarter, compared to analysts’ expectations of $156.97 million. Manchester United had a return on equity of 13.56% and a net margin of 3.67%. Manchester United’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, analysts predict that Manchester United will post 0.2 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd acquired a new stake in Manchester United during the first quarter valued at $284,000. Oxford Asset Management LLP boosted its position in Manchester United by 47.5% during the first quarter. Oxford Asset Management LLP now owns 98,529 shares of the company’s stock valued at $1,894,000 after purchasing an additional 31,732 shares during the last quarter. Marshall Wace LLP boosted its position in Manchester United by 429.7% during the first quarter. Marshall Wace LLP now owns 75,693 shares of the company’s stock valued at $1,455,000 after purchasing an additional 61,402 shares during the last quarter. Renaissance Technologies LLC boosted its position in Manchester United by 14.4% during the first quarter. Renaissance Technologies LLC now owns 573,200 shares of the company’s stock valued at $11,017,000 after purchasing an additional 72,200 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its position in Manchester United by 8.3% during the first quarter. Federated Investors Inc. PA now owns 65,000 shares of the company’s stock valued at $1,249,000 after purchasing an additional 5,000 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Manchester United Company Profile

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand.

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