Bank of New York Mellon Corp Sells 10,498 Shares of Manchester United plc (NYSE:MANU)

Bank of New York Mellon Corp lowered its stake in Manchester United plc (NYSE:MANU) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 211,317 shares of the company’s stock after selling 10,498 shares during the quarter. Bank of New York Mellon Corp’s holdings in Manchester United were worth $3,666,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Manchester United by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 59,335 shares of the company’s stock valued at $960,000 after acquiring an additional 16,991 shares in the last quarter. Janus Henderson Group PLC increased its stake 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 in the last quarter. Harvey Partners LLC increased its stake in shares of Manchester United by 156.9% in the 3rd quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock valued at $11,973,000 after acquiring an additional 452,000 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Manchester United in the 3rd quarter valued at $209,000. Finally, Blue Trust Inc. increased its stake in shares of Manchester United by 127.7% in the 4th quarter. Blue Trust Inc. now owns 3,358 shares of the company’s stock valued at $58,000 after acquiring an additional 1,883 shares in the last quarter. Institutional investors own 23.34% of the company’s stock.

Manchester United Price Performance

Shares of NYSE:MANU opened at $13.84 on Thursday. The company’s 50-day moving average is $15.24 and its 200 day moving average is $16.23. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.35 and a current ratio of 0.41. The company has a market capitalization of $2.34 billion, a P/E ratio of -13.56 and a beta of 0.66. Manchester United plc has a fifty-two week low of $13.20 and a fifty-two week high of $18.42.

Manchester United (NYSE:MANU) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $254.62 million for the quarter, compared to the consensus estimate of $248.15 million. Manchester United had a negative net margin of 21.46% and a negative return on equity of 44.76%. On average, equities research analysts forecast that Manchester United plc will post -0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MANU shares. UBS Group started coverage on shares of Manchester United in a research note on Tuesday, December 17th. They set a “buy” rating and a $23.00 price target for the company. StockNews.com upgraded shares of Manchester United to a “sell” rating in a research note on Tuesday, January 21st.

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.