562,071 Shares in Manchester United plc (NYSE:MANU) Bought by Lancaster Investment Management

Lancaster Investment Management acquired a new stake in Manchester United plc (NYSE:MANU) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 562,071 shares of the company’s stock, valued at approximately $9,094,000. Manchester United accounts for 5.7% of Lancaster Investment Management’s investment portfolio, making the stock its 6th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in shares of Manchester United by 912.0% during the 1st quarter. BNP Paribas Financial Markets now owns 2,277 shares of the company’s stock valued at $32,000 after purchasing an additional 2,052 shares during the last quarter. Emfo LLC purchased a new position in Manchester United during the second quarter valued at $50,000. Dnca Finance purchased a new position in Manchester United during the second quarter valued at $53,000. Simplicity Wealth LLC increased its holdings in shares of Manchester United by 1.5% in the 2nd quarter. Simplicity Wealth LLC now owns 232,370 shares of the company’s stock worth $3,750,000 after purchasing an additional 3,483 shares in the last quarter. Finally, Nkcfo LLC bought a new stake in shares of Manchester United in the second quarter worth $113,000. Hedge funds and other institutional investors own 23.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft boosted their target price 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 Price Performance

NYSE:MANU opened at $17.90 on Friday. The stock has a market capitalization of $3.03 billion, a PE ratio of -20.57 and a beta of 0.69. Manchester United plc has a 52 week low of $13.50 and a 52 week high of $22.00. The stock’s 50-day moving average price is $16.39 and its 200-day moving average price is $16.54. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 3.53.

Manchester United (NYSE:MANU) last posted its quarterly earnings data on Wednesday, September 11th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Manchester United had a negative return on equity of 55.05% and a negative net margin of 17.28%. The business had revenue of $179.43 million for the quarter, compared to analyst estimates of $180.82 million. As a group, equities analysts expect that Manchester United plc will post -0.74 EPS for the current fiscal year.

Manchester United Company 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.