Manchester United Ltd. $MANU Stock Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its holdings in Manchester United Ltd. (NYSE:MANU) by 32.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,925,251 shares of the company’s stock after purchasing an additional 473,102 shares during the period. Pinnacle Associates Ltd.’s holdings in Manchester United were worth $40,334,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MANU. Gamco Investors INC. ET AL raised its position in Manchester United by 110.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,104,738 shares of the company’s stock worth $18,582,000 after buying an additional 580,887 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Manchester United by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 645,790 shares of the company’s stock valued at $10,862,000 after acquiring an additional 77,804 shares during the period. Gabelli Funds LLC lifted its stake in Manchester United by 26.2% during the 1st quarter. Gabelli Funds LLC now owns 619,318 shares of the company’s stock valued at $10,417,000 after acquiring an additional 128,655 shares during the period. CI Investments Inc. boosted its holdings in shares of Manchester United by 5.7% during the 1st quarter. CI Investments Inc. now owns 420,282 shares of the company’s stock valued at $7,069,000 after acquiring an additional 22,554 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Manchester United by 23.7% during the 1st quarter. Renaissance Technologies LLC now owns 268,400 shares of the company’s stock valued at $4,514,000 after acquiring an additional 51,500 shares during the last quarter. 23.34% of the stock is currently owned by institutional investors.

Manchester United Trading Up 3.1%

Shares of MANU stock opened at $21.06 on Wednesday. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 3.84. Manchester United Ltd. has a 12-month low of $14.85 and a 12-month high of $24.45. The stock has a market capitalization of $3.63 billion, a P/E ratio of -63.81 and a beta of 0.65. The firm’s 50 day moving average is $21.29 and its 200 day moving average is $20.93.

Manchester United (NYSE:MANU) last announced its earnings results on Wednesday, September 23rd. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.18. The business had revenue of $208.66 million during the quarter, compared to analyst estimates of $192.23 million. Manchester United had a negative net margin of 6.36% and a negative return on equity of 12.22%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Manchester United in a research note on Friday, September 11th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Manchester United Profile

Manchester United plc (NYSE: MANU) owns and operates Manchester United Football Club, one of the world’s best-known professional soccer teams. The club competes in England’s Premier League and fields men’s, women’s and academy teams. Its activities include sporting operations, ticket sales, matchday hospitality and events, sponsorships, broadcasting and licensing.

The club traces its origins to 1878, when it was founded as Newton Heath Lancashire and Yorkshire Railway Football Club. It adopted the name Manchester United in 1902 and plays its home matches at Old Trafford in Manchester, England.