Gabelli Funds LLC Raises Stock Position in Manchester United Ltd. $MANU

Key Points

• Gabelli Funds LLC increased its stake in Manchester United Ltd. by 7.6%, owning 425,995 shares valued at approximately $5.58 million after purchasing an additional 30,087 shares in the first quarter.
• Manchester United's stock rose 1.9% to $17.42, with a 52-week range of $12.05 to $19.65, and the company reported a loss of ($0.04) earnings per share for the last quarter, exceeding analysts' expectations.
• Wall Street analysts have upgraded Manchester United from a "sell" to a "hold" rating, with a consensus rating of "Buy" and an average target price of $23.00.

Gabelli Funds LLC increased its position in Manchester United Ltd. (NYSE:MANU - Free Report) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 425,995 shares of the company's stock after acquiring an additional 30,087 shares during the period. Gabelli Funds LLC owned about 0.25% of Manchester United worth $5,576,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Manchester United by 55.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,131 shares of the company's stock worth $37,000 after acquiring an additional 758 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Manchester United in the 4th quarter worth approximately $177,000. Simon Quick Advisors LLC purchased a new stake in Manchester United during the 1st quarter valued at $137,000. Entropy Technologies LP purchased a new stake in Manchester United during the 1st quarter valued at $142,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Manchester United during the 4th quarter valued at $226,000. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

Manchester United Stock Performance

Shares of NYSE:MANU traded up $0.41 during midday trading on Friday, hitting $17.85. The company had a trading volume of 294,521 shares, compared to its average volume of 175,299. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.39 and a quick ratio of 0.37. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -36.42 and a beta of 0.69. Manchester United Ltd. has a 12-month low of $12.05 and a 12-month high of $19.65. The company has a fifty day moving average of $17.70 and a two-hundred day moving average of $15.50.

Manchester United (NYSE:MANU - Get Free Report) last posted its quarterly earnings data on Friday, June 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.29. The firm had revenue of $203.10 million during the quarter, compared to analyst estimates of $159.13 million. Manchester United had a negative return on equity of 22.40% and a negative net margin of 10.09%.During the same period in the prior year, the business posted ($0.24) EPS. Manchester United has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Manchester United Ltd. will post -0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Manchester United Company 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.