Ionic Capital Management LLC Sells 18,700 Shares of Manchester United plc (NYSE:MANU)

Ionic Capital Management LLC decreased its stake in Manchester United plc (NYSE:MANU) by 28.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 47,300 shares of the company’s stock after selling 18,700 shares during the quarter. Ionic Capital Management LLC’s holdings in Manchester United were worth $765,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ariel Investments LLC raised its stake in shares of Manchester United by 50.9% during the second 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. Pinnacle Associates Ltd. increased its stake in Manchester United by 15.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company’s stock worth $21,814,000 after buying an additional 185,271 shares during the period. Harvey Partners LLC lifted its stake in shares of Manchester United by 156.9% during the 3rd quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock worth $11,973,000 after purchasing an additional 452,000 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of 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 period. Finally, Lancaster Investment Management purchased a new stake in shares of Manchester United during the 3rd quarter worth about $9,094,000. Institutional investors and hedge funds own 23.34% of the company’s stock.

Manchester United Stock Performance

Shares of MANU stock opened at $17.29 on Tuesday. The firm’s 50 day moving average price is $16.66 and its 200-day moving average price is $16.69. The firm has a market cap of $2.93 billion, a P/E ratio of -26.20 and a beta of 0.68. Manchester United plc has a one year low of $13.50 and a one year 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.

Manchester United (NYSE:MANU) last posted its quarterly earnings data on Wednesday, September 11th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $179.43 million during the quarter, compared to the consensus estimate of $180.82 million. Manchester United had a negative net margin of 13.36% and a negative return on equity of 37.41%. As a group, equities research analysts predict that Manchester United plc will post -0.54 EPS for the current 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.