Manchester United (NYSE:MANU) Now Covered by UBS Group

UBS Group began coverage on shares of Manchester United (NYSE:MANU) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $23.00 price target on the stock.

Separately, StockNews.com raised shares of Manchester United to a “sell” rating in a research note on Wednesday, December 4th.

Manchester United Stock Performance

NYSE MANU opened at $17.08 on Tuesday. The company has a market cap of $2.89 billion, a P/E ratio of -25.88 and a beta of 0.68. The business’s 50 day moving average price is $16.94 and its 200-day moving average price is $16.74. Manchester United has a fifty-two week low of $13.50 and a fifty-two week high of $22.00. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.35 and a current ratio of 0.36.

Institutional Investors Weigh In On Manchester United

Several hedge funds and other institutional investors have recently modified their holdings of MANU. Janus Henderson Group PLC increased its stake in Manchester United by 24.5% in the third quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock worth $9,950,000 after purchasing an additional 121,211 shares during the period. Ariel Investments LLC grew its holdings in shares of Manchester United by 50.9% in the second quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock worth $129,234,000 after purchasing an additional 2,700,337 shares during the last quarter. Harvey Partners LLC increased its stake in Manchester United by 156.9% in the 3rd quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock worth $11,973,000 after buying an additional 452,000 shares during the period. Gabelli Funds LLC lifted its holdings in Manchester United by 10.7% during the 2nd 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. Finally, Lancaster Investment Management purchased a new stake in Manchester United in the 3rd quarter valued at about $9,094,000. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

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.