Harvey Partners LLC Buys 150,802 Shares of Manchester United Ltd. $MANU

Harvey Partners LLC increased its stake in shares of Manchester United Ltd. (NYSE:MANU) by 15.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,102,500 shares of the company’s stock after purchasing an additional 150,802 shares during the period. Harvey Partners LLC owned 0.64% of Manchester United worth $16,692,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ariel Investments LLC grew its holdings in Manchester United by 5.2% during the 2nd quarter. Ariel Investments LLC now owns 9,024,434 shares of the company’s stock valued at $160,725,000 after buying an additional 449,105 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Manchester United by 83.8% in the third quarter. Bank of America Corp DE now owns 243,444 shares of the company’s stock worth $3,686,000 after buying an additional 111,011 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Manchester United by 48.9% in the second quarter. Marshall Wace LLP now owns 283,574 shares of the company’s stock valued at $5,050,000 after acquiring an additional 93,111 shares during the period. Two Sigma Investments LP bought a new position in shares of Manchester United in the third quarter valued at approximately $1,227,000. Finally, Jane Street Group LLC grew its stake in Manchester United by 156.3% during the first quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock valued at $374,000 after acquiring an additional 79,290 shares in the last quarter. Institutional investors own 23.34% of the company’s stock.

Analyst Ratings Changes

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

Manchester United Stock Performance

NYSE:MANU opened at $16.04 on Monday. The stock has a market cap of $2.77 billion, a P/E ratio of -229.11 and a beta of 0.50. The company has a quick ratio of 0.30, a current ratio of 0.32 and a debt-to-equity ratio of 2.52. The business’s 50-day moving average price is $17.21 and its two-hundred day moving average price is $16.48. Manchester United Ltd. has a twelve month low of $12.05 and a twelve month high of $19.65.

Manchester United (NYSE:MANU) last issued 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). The business had revenue of $255.92 million for the quarter, compared to analysts’ expectations of $251.72 million. Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%. As a group, equities analysts predict that Manchester United Ltd. will post -0.74 EPS for the current fiscal year.

About Manchester United

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.