Zacks Investment Research cut shares of Manchester United Ltd. (NYSE:MANU) from a hold rating to a strong sell rating in a report released on Wednesday.

According to Zacks, “Manchester United PLC operates a professional sports team. The Company manages the soccer team and all affiliated club activities of the Manchester United Football Club that includes the media network, foundation, fan zone, news and sports features, and team merchandise. Manchester United PLC is based in Manchester, United Kingdom. “

Several other research firms have also issued reports on MANU. Deutsche Bank AG reissued a buy rating and issued a $20.00 price objective (up previously from $19.00) on shares of Manchester United in a research report on Monday, September 25th. BidaskClub raised shares of Manchester United from a hold rating to a buy rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reissued a buy rating and issued a $21.00 price objective (up previously from $19.00) on shares of Manchester United in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Manchester United presently has an average rating of Hold and an average price target of $20.60.

Manchester United (NYSE MANU) opened at 18.00 on Wednesday. Manchester United has a 52-week low of $14.10 and a 52-week high of $18.30. The stock has a market cap of $2.95 billion, a PE ratio of 57.32 and a beta of 0.54. The company’s 50 day moving average is $16.79 and its 200-day moving average is $16.64.

Manchester United (NYSE:MANU) last issued its quarterly earnings results on Thursday, September 21st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Manchester United had a net margin of 6.74% and a return on equity of 7.50%. The firm had revenue of $175.90 million during the quarter, compared to analyst estimates of $160.47 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. Manchester United’s revenue for the quarter was up 30.8% compared to the same quarter last year. On average, equities analysts anticipate that Manchester United will post $4.44 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. Oxford Asset Management boosted its stake in shares of Manchester United by 21.0% in the first quarter. Oxford Asset Management now owns 20,558 shares of the company’s stock valued at $347,000 after purchasing an additional 3,570 shares during the period. Bank of America Corp DE boosted its stake in shares of Manchester United by 19.6% in the first quarter. Bank of America Corp DE now owns 26,160 shares of the company’s stock valued at $442,000 after purchasing an additional 4,290 shares during the period. OxFORD Asset Management LLP boosted its stake in shares of Manchester United by 34.5% in the second quarter. OxFORD Asset Management LLP now owns 27,647 shares of the company’s stock valued at $449,000 after purchasing an additional 7,089 shares during the period. Gabelli Funds LLC boosted its stake in shares of Manchester United by 6.9% in the first quarter. Gabelli Funds LLC now owns 31,000 shares of the company’s stock valued at $524,000 after purchasing an additional 2,000 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Manchester United in the first quarter valued at $717,000. Institutional investors and hedge funds 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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