Manchester United Ltd. $MANU Shares Acquired by Ariel Investments LLC

Key Points

• Ariel Investments LLC increased its stake in Manchester United by 2.5%, acquiring an additional 205,807 shares for a total of 8,575,329 shares, valued at approximately $112.25 million.
• Manchester United's stock was upgraded from a "sell" to a "hold" rating, with an average consensus price target of $23.00 according to Wall Street analysts.
• The company reported earnings of ($0.04) per share for the latest quarter, surpassing expectations, with $203.10 million in revenue compared to analyst estimates of $159.13 million.

Ariel Investments LLC raised its holdings in shares of Manchester United Ltd. (NYSE:MANU - Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,575,329 shares of the company's stock after buying an additional 205,807 shares during the quarter. Ariel Investments LLC owned about 5.06% of Manchester United worth $112,251,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Krilogy Financial LLC grew its holdings in shares of Manchester United by 233.3% during the first quarter. Krilogy Financial LLC now owns 40,000 shares of the company's stock worth $524,000 after buying an additional 28,000 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Manchester United by 7.6% in the first quarter. Gabelli Funds LLC now owns 425,995 shares of the company's stock valued at $5,576,000 after purchasing an additional 30,087 shares during the period. LPL Financial LLC grew its holdings in shares of Manchester United by 46.7% in the first quarter. LPL Financial LLC now owns 104,830 shares of the company's stock valued at $1,372,000 after purchasing an additional 33,361 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Manchester United in the fourth quarter valued at about $783,000. Finally, Lancaster Investment Management grew its holdings in shares of Manchester United by 7.8% in the first quarter. Lancaster Investment Management now owns 880,351 shares of the company's stock valued at $11,524,000 after purchasing an additional 64,000 shares during the period. Hedge funds and other institutional investors own 23.34% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Manchester United from a "sell" rating to a "hold" rating in a report on Saturday, May 31st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Manchester United currently has a consensus rating of "Buy" and a consensus price target of $23.00.

Manchester United Trading Down 1.2%

MANU stock traded down $0.19 during mid-day trading on Friday, hitting $15.89. 245,031 shares of the company were exchanged, compared to its average volume of 222,763. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $2.69 billion, a P/E ratio of -32.42 and a beta of 0.69. The business has a fifty day simple moving average of $17.49 and a 200-day simple moving average of $15.53. Manchester United Ltd. has a 12-month low of $12.05 and a 12-month high of $19.65.

Manchester United (NYSE:MANU - Get Free Report) last announced its earnings results on Friday, June 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.29. The company had revenue of $203.10 million during the quarter, compared to analyst estimates of $159.13 million. Manchester United had a negative net margin of 10.09% and a negative return on equity of 22.40%. During the same quarter last year, the firm posted ($0.24) earnings per share. On average, equities research analysts predict that Manchester United Ltd. will post -0.74 earnings per share for the current fiscal year.

About Manchester United

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