Lancaster Investment Management Buys 64,000 Shares of Manchester United Ltd. (NYSE:MANU)

Lancaster Investment Management raised its holdings in Manchester United Ltd. (NYSE:MANU - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 880,351 shares of the company's stock after acquiring an additional 64,000 shares during the quarter. Manchester United accounts for about 8.5% of Lancaster Investment Management's holdings, making the stock its 4th biggest position. Lancaster Investment Management owned about 0.52% of Manchester United worth $11,524,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of Manchester United by 129.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,109 shares of the company's stock worth $37,000 after buying an additional 1,188 shares during the last quarter. Quantbot Technologies LP acquired a new position in Manchester United in the 4th quarter valued at about $156,000. Fox Run Management L.L.C. acquired a new position in Manchester United in the 4th quarter valued at about $302,000. JPMorgan Chase & Co. raised its stake in Manchester United by 104.1% in the 4th quarter. JPMorgan Chase & Co. now owns 121,121 shares of the company's stock valued at $2,101,000 after purchasing an additional 61,786 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Manchester United by 213.1% in the 4th quarter. National Bank of Canada FI now owns 9,686 shares of the company's stock valued at $168,000 after purchasing an additional 6,592 shares during the last quarter. Institutional investors and hedge funds own 23.34% of the company's stock.

Wall Street Analysts Forecast Growth

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.

Manchester United Trading Down 1.4%

MANU traded down $0.25 during midday trading on Tuesday, hitting $17.07. The company's stock had a trading volume of 542,407 shares, compared to its average volume of 276,903. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 2.54. The firm has a market cap of $2.89 billion, a P/E ratio of -34.84 and a beta of 0.66. The firm has a 50-day moving average price of $15.62 and a two-hundred day moving average price of $15.17. 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 issued its earnings results on Friday, June 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.29. Manchester United had a negative return on equity of 22.40% and a negative net margin of 10.09%. The business had revenue of $203.10 million during the quarter, compared to analysts' expectations of $159.13 million. During the same quarter in the previous year, the business earned ($0.24) EPS. On average, research analysts anticipate that Manchester United Ltd. will post -0.74 earnings per share 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.