Gabelli Funds LLC Grows 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 raised its stake in shares of Manchester United Ltd. (NYSE:MANU - Free Report) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 425,995 shares of the company's stock after purchasing an additional 30,087 shares during the quarter. Gabelli Funds LLC owned approximately 0.25% of Manchester United worth $5,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MANU. Infinitum Asset Management LLC purchased a new position in Manchester United during the 4th quarter valued at $6,420,000. Northern Trust Corp lifted its position in Manchester United by 59.2% during the 4th quarter. Northern Trust Corp now owns 204,805 shares of the company's stock valued at $3,553,000 after acquiring an additional 76,181 shares during the period. Ariel Investments LLC boosted its stake in Manchester United by 0.8% during the fourth quarter. Ariel Investments LLC now owns 8,369,522 shares of the company's stock worth $145,211,000 after acquiring an additional 64,997 shares in the last quarter. Lancaster Investment Management boosted its stake in Manchester United by 7.8% during the first quarter. Lancaster Investment Management now owns 880,351 shares of the company's stock worth $11,524,000 after acquiring an additional 64,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in Manchester United during the fourth quarter worth about $783,000. 23.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Manchester United Stock Performance

MANU traded down $0.25 during midday trading on Wednesday, hitting $16.06. 81,627 shares of the company traded hands, compared to its average volume of 273,032. 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 $2.72 billion, a PE ratio of -32.74 and a beta of 0.69. The company's 50-day moving average is $17.62 and its 200 day moving average is $15.52. Manchester United Ltd. has a 52 week low of $12.05 and a 52 week high of $19.65.

Manchester United (NYSE:MANU - Get Free Report) last posted its earnings results on Friday, June 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.29. The business had revenue of $203.10 million for the quarter, compared to analysts' expectations 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 in the prior year, the business earned ($0.24) EPS. Manchester United has set its FY 2025 guidance at EPS. On average, research analysts expect that Manchester United Ltd. will post -0.74 EPS for the current year.

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.