Jefferies Group LLC Reiterates “Buy” Rating for Manchester United Ltd. (MANU)
Manchester United Ltd. (NYSE:MANU)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group LLC in a report released on Thursday. They currently have a $21.00 price objective on the stock, up from their prior price objective of $19.00. Jefferies Group LLC’s price objective would suggest a potential upside of 21.39% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Manchester United from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub cut Manchester United from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $20.60.
Manchester United (NYSE:MANU) last posted its earnings results on Thursday, September 21st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. The firm had revenue of $175.90 million during the quarter, compared to the consensus estimate of $160.47 million. Manchester United had a net margin of 6.74% and a return on equity of 7.50%. The company’s revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MANU. Janus Henderson Group PLC purchased a new position in Manchester United in the 2nd quarter worth approximately $19,144,000. Alliancebernstein L.P. boosted its holdings in Manchester United by 118.7% in the 1st quarter. Alliancebernstein L.P. now owns 313,760 shares of the company’s stock worth $5,303,000 after acquiring an additional 170,273 shares during the period. Jane Street Group LLC purchased a new position in Manchester United in the 1st quarter worth approximately $717,000. Intrinsic Edge Capital Management LLC boosted its holdings in Manchester United by 116.4% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 50,265 shares of the company’s stock worth $817,000 after acquiring an additional 27,033 shares during the period. Finally, K.J. Harrison & Partners Inc boosted its holdings in Manchester United by 87.3% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 51,010 shares of the company’s stock worth $829,000 after acquiring an additional 23,781 shares during the period. Hedge funds and other institutional investors own 72.26% of the company’s stock.
Manchester United Company Profile
Manchester United plc is engaged in the operation of a professional football club together with related and ancillary activities. Its football operations primarily comprise various activities, such as its first team, reserve team, youth academy, global scouting networks and other operations, such as its sport science, medical and fitness operations at the Aon Training Complex.
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