Pinnacle Associates Ltd. Has $22.35 Million Stake in Manchester United Ltd. $MANU

Pinnacle Associates Ltd. boosted its position in Manchester United Ltd. (NYSE:MANU) by 30.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,404,151 shares of the company’s stock after buying an additional 327,553 shares during the period. Pinnacle Associates Ltd. owned approximately 0.81% of Manchester United worth $22,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC lifted its holdings in Manchester United by 13.1% in the third quarter. Savant Capital LLC now owns 12,357 shares of the company’s stock valued at $187,000 after buying an additional 1,427 shares during the period. Raymond James Financial Inc. acquired a new position in Manchester United in the second quarter valued at $29,000. Twin Securities Inc. lifted its holdings in Manchester United by 21.6% in the third quarter. Twin Securities Inc. now owns 14,763 shares of the company’s stock valued at $224,000 after buying an additional 2,620 shares during the period. Legal & General Group Plc lifted its holdings in Manchester United by 12.2% in the third quarter. Legal & General Group Plc now owns 28,702 shares of the company’s stock valued at $434,000 after buying an additional 3,130 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in Manchester United by 105.3% in the second quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock valued at $114,000 after buying an additional 3,273 shares during the period. Institutional investors and hedge funds own 23.34% of the company’s stock.

Manchester United Trading Up 0.9%

MANU opened at $18.82 on Thursday. Manchester United Ltd. has a 1-year low of $13.22 and a 1-year high of $19.92. The company has a current ratio of 0.32, a quick ratio of 0.30 and a debt-to-equity ratio of 2.52. The company has a market cap of $3.25 billion, a P/E ratio of -268.88 and a beta of 0.59. The company has a fifty day moving average price of $17.40 and a two-hundred day moving average price of $16.81.

Manchester United (NYSE:MANU) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). Manchester United had a negative net margin of 1.39% and a negative return on equity of 4.85%. The company had revenue of $255.92 million during the quarter, compared to the consensus estimate of $251.72 million.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Manchester United from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Manchester United currently has a consensus rating of “Sell”.

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.