JPMorgan Chase & Co. Raises Stock Position in Manchester United plc (NYSE:MANU)

JPMorgan Chase & Co. lifted its position in shares of Manchester United plc (NYSE:MANU) by 40.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,335 shares of the company’s stock after acquiring an additional 16,991 shares during the quarter. JPMorgan Chase & Co.’s holdings in Manchester United were worth $960,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC grew its stake in Manchester United by 24.5% in the 3rd quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock valued at $9,950,000 after acquiring an additional 121,211 shares during the last quarter. Harvey Partners LLC lifted its holdings in shares of Manchester United by 156.9% in the third quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock valued at $11,973,000 after purchasing an additional 452,000 shares in the last quarter. Twin Securities Inc. grew its position in shares of Manchester United by 7.0% in the third quarter. Twin Securities Inc. now owns 36,266 shares of the company’s stock valued at $587,000 after purchasing an additional 2,358 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Manchester United during the 3rd quarter worth approximately $274,000. Finally, Verition Fund Management LLC purchased a new position in shares of Manchester United during the 3rd quarter worth approximately $209,000. Hedge funds and other institutional investors own 23.34% of the company’s stock.

Manchester United Stock Performance

NYSE:MANU opened at $16.23 on Friday. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.36 and a quick ratio of 0.35. The firm has a market cap of $2.75 billion, a PE ratio of -24.59 and a beta of 0.66. The firm has a 50 day simple moving average of $16.93 and a 200-day simple moving average of $16.80. Manchester United plc has a 1-year low of $13.50 and a 1-year high of $22.00.

Analysts Set New Price Targets

A number of research firms recently issued reports on MANU. UBS Group initiated coverage on Manchester United in a research note on Tuesday, December 17th. They issued a “buy” rating and a $23.00 target price on the stock. StockNews.com upgraded Manchester United to a “sell” rating in a research report on Tuesday, January 21st.

About Manchester United

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.