Cooperman Leon G Has $37.17 Million Stock Position in Manchester United Ltd. $MANU

Key Points

• Cooperman Leon G increased its stake in Manchester United Ltd. by 9.1%, bringing its total ownership to approximately 2.84 million shares and making it the fund's 23rd largest holding.
• Other institutional investors, including Lancaster Investment Management and Gamco Investors, have also raised their stakes in Manchester United, reflecting increased interest in the company among institutional investors.
• Manchester United reported earnings that exceeded estimates, with a revenue of $203.1 million for the quarter, leading analysts to give the stock a consensus rating of "Buy" with a price target of $23.00.

Cooperman Leon G raised its holdings in shares of Manchester United Ltd. (NYSE:MANU - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,839,737 shares of the company's stock after purchasing an additional 238,032 shares during the period. Manchester United accounts for approximately 1.5% of Cooperman Leon G's holdings, making the stock its 23rd biggest holding. Cooperman Leon G owned about 1.68% of Manchester United worth $37,172,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MANU. Infinitum Asset Management LLC bought a new stake in Manchester United in the fourth quarter valued at approximately $6,420,000. Michelson Medical Research Foundation Inc. bought a new stake in Manchester United in the first quarter valued at approximately $2,618,000. PDT Partners LLC increased its stake in Manchester United by 401.6% in the first quarter. PDT Partners LLC now owns 117,601 shares of the company's stock valued at $1,539,000 after purchasing an additional 94,155 shares in the last quarter. Northern Trust Corp increased its stake in Manchester United by 59.2% in the fourth quarter. Northern Trust Corp now owns 204,805 shares of the company's stock valued at $3,553,000 after purchasing an additional 76,181 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Manchester United by 28.7% in the first quarter. Gamco Investors INC. ET AL now owns 287,548 shares of the company's stock valued at $3,764,000 after purchasing an additional 64,148 shares in the last quarter. 23.34% of the stock is currently owned by institutional investors and hedge funds.

Manchester United Stock Down 1.2%

Shares of MANU traded down $0.19 during mid-day trading on Friday, hitting $15.89. 245,031 shares of the company's stock were exchanged, compared to its average volume of 222,763. The company has a market cap of $2.69 billion, a PE ratio of -32.42 and a beta of 0.69. Manchester United Ltd. has a 52 week low of $12.05 and a 52 week high of $19.65. The company has a 50-day simple moving average of $17.49 and a 200 day simple moving average of $15.52. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.39 and a quick ratio of 0.37.

Manchester United (NYSE:MANU - Get Free Report) last issued its quarterly 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. Manchester United had a negative net margin of 10.09% and a negative return on equity of 22.40%. The company had revenue of $203.10 million during the quarter, compared to analysts' expectations of $159.13 million. During the same period last year, the business earned ($0.24) EPS. On average, research analysts forecast that Manchester United Ltd. will post -0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Manchester United from a "sell" rating to a "hold" rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Manchester United presently has an average rating of "Buy" and an average price target of $23.00.

Manchester United Profile

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.