Manchester United plc (NYSE:MANU) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC reduced its stake in Manchester United plc (NYSE:MANU) by 91.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,386 shares of the company’s stock after selling 212,984 shares during the period. Bleakley Financial Group LLC’s holdings in Manchester United were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ariel Investments LLC grew its holdings in Manchester United by 50.9% during the 2nd quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock worth $129,234,000 after acquiring an additional 2,700,337 shares in the last quarter. Ursa Fund Management LLC grew its stake in shares of Manchester United by 577.1% during the first quarter. Ursa Fund Management LLC now owns 260,000 shares of the company’s stock worth $3,630,000 after purchasing an additional 221,600 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Manchester United by 15.9% in the second quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company’s stock valued at $21,814,000 after buying an additional 185,271 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Manchester United in the second quarter valued at $686,000. Finally, Gabelli Funds LLC raised its stake in Manchester United by 10.7% in the second quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock valued at $6,091,000 after buying an additional 36,507 shares in the last quarter. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft upped their price objective on Manchester United from $16.00 to $18.50 and gave the stock a “hold” rating in a research report on Wednesday, July 24th.

Manchester United Stock Down 3.4 %

Shares of NYSE:MANU opened at $15.64 on Thursday. The firm has a 50 day simple moving average of $16.60 and a 200-day simple moving average of $16.40. Manchester United plc has a twelve month low of $13.50 and a twelve month high of $22.00. The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 3.53. The company has a market capitalization of $2.58 billion, a PE ratio of -25.22 and a beta of 0.69.

Manchester United (NYSE:MANU) last announced its quarterly earnings results on Wednesday, September 11th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. Manchester United had a negative net margin of 17.28% and a negative return on equity of 55.05%. The firm had revenue of $179.43 million for the quarter, compared to analyst estimates of $180.82 million. On average, equities analysts predict that Manchester United plc will post -0.73 EPS for the current fiscal year.

Manchester United Profile

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