Alliancebernstein L.P. Buys 19,290 Shares of Manchester United Ltd. (MANU)
Alliancebernstein L.P. lifted its stake in Manchester United Ltd. (NYSE:MANU) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 333,050 shares of the company’s stock after buying an additional 19,290 shares during the period. Alliancebernstein L.P. owned about 0.83% of Manchester United worth $5,412,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Oxford Asset Management lifted its position in shares of Manchester United by 21.0% during the 1st quarter. Oxford Asset Management now owns 20,558 shares of the company’s stock worth $347,000 after buying an additional 3,570 shares during the period. Bank of America Corp DE boosted its stake in Manchester United by 19.6% in the 1st quarter. Bank of America Corp DE now owns 26,160 shares of the company’s stock valued at $442,000 after buying an additional 4,290 shares in the last quarter. Jane Street Group LLC acquired a new stake in Manchester United in the 1st quarter valued at $717,000. K.J. Harrison & Partners Inc boosted its stake in Manchester United by 87.3% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 51,010 shares of the company’s stock valued at $829,000 after buying an additional 23,781 shares in the last quarter. Finally, Clark Estates Inc. NY boosted its stake in Manchester United by 3.0% in the 2nd quarter. Clark Estates Inc. NY now owns 79,298 shares of the company’s stock valued at $1,289,000 after buying an additional 2,300 shares in the last quarter. 72.26% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the company. Zacks Investment Research cut Manchester United from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 27th. Deutsche Bank AG reiterated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Manchester United in a research note on Monday, September 25th. Jefferies Group LLC reissued a “buy” rating and set a $21.00 price objective (up from $19.00) on shares of Manchester United in a report on Thursday, September 21st. Finally, BidaskClub cut Manchester United from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $20.60.
Shares of Manchester United Ltd. (NYSE MANU) opened at 18.00 on Monday. The firm’s 50-day moving average is $16.79 and its 200 day moving average is $16.64. The company has a market capitalization of $2.95 billion, a PE ratio of 57.32 and a beta of 0.57. Manchester United Ltd. has a 52 week low of $14.10 and a 52 week high of $18.30.
Manchester United (NYSE:MANU) last released its earnings results on Thursday, September 21st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $175.90 million for the quarter, compared to analyst estimates of $160.47 million. Manchester United had a return on equity of 7.50% and a net margin of 6.74%. Manchester United’s quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. On average, analysts anticipate that Manchester United Ltd. will post $4.44 earnings per share for the current fiscal year.
Manchester United Company Profile
Manchester United plc is engaged in the operation of a professional football club together with related and ancillary activities. Its football operations primarily comprise various activities, such as its first team, reserve team, youth academy, global scouting networks and other operations, such as its sport science, medical and fitness operations at the Aon Training Complex.
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