Zacks Investment Research downgraded shares of Manchester United (NYSE:MANU) from a buy rating to a hold rating in a report published on Thursday morning, reports.

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. “

A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Manchester United from a buy rating to a hold rating in a research report on Wednesday, May 15th. Deutsche Bank set a $20.00 target price on Manchester United and gave the company a hold rating in a research report on Wednesday, February 20th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $22.75.

NYSE MANU traded up $0.03 on Thursday, reaching $18.46. 5,122 shares of the company were exchanged, compared to its average volume of 64,213. The firm has a market capitalization of $747.22 million, a P/E ratio of 131.86, a price-to-earnings-growth ratio of 3.86 and a beta of 0.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.09. Manchester United has a fifty-two week low of $16.91 and a fifty-two week high of $27.70.

Manchester United (NYSE:MANU) last released its quarterly earnings data on Thursday, May 16th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.10. The company had revenue of $152.10 million for the quarter, compared to analyst estimates of $156.97 million. Manchester United had a return on equity of 13.45% and a net margin of 3.67%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. As a group, sell-side analysts forecast that Manchester United will post 0.22 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MANU. Acadian Asset Management LLC increased its holdings in Manchester United by 443.9% during the 4th quarter. Acadian Asset Management LLC now owns 1,686 shares of the company’s stock worth $32,000 after purchasing an additional 1,376 shares during the period. Quantamental Technologies LLC purchased a new stake in Manchester United during the 4th quarter valued at $37,000. BlueCrest Capital Management Ltd purchased a new stake in Manchester United during the 1st quarter valued at $284,000. Geode Capital Management LLC raised its holdings in Manchester United by 47.3% during the 4th quarter. Geode Capital Management LLC now owns 18,378 shares of the company’s stock valued at $348,000 after buying an additional 5,905 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Manchester United by 104,582.9% during the 1st quarter. JPMorgan Chase & Co. now owns 36,639 shares of the company’s stock valued at $705,000 after buying an additional 36,604 shares during the period. Institutional investors own 85.29% of the company’s stock.

About Manchester United

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand.

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