Lancaster Investment Management Boosts Stock Holdings in Manchester United Ltd. (NYSE:MANU)

Lancaster Investment Management raised its stake in shares of Manchester United Ltd. (NYSE:MANU - Free Report) by 7.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 880,351 shares of the company's stock after buying an additional 64,000 shares during the quarter. Manchester United comprises 8.5% of Lancaster Investment Management's portfolio, making the stock its 4th largest holding. Lancaster Investment Management owned approximately 0.52% of Manchester United worth $11,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MANU. Infinitum Asset Management LLC bought a new position in shares of Manchester United during the 4th quarter valued at about $6,420,000. Breach Inlet Capital Management LLC boosted its stake in Manchester United by 58.0% in the fourth quarter. Breach Inlet Capital Management LLC now owns 664,856 shares of the company's stock worth $11,535,000 after buying an additional 243,977 shares in the last quarter. Antara Capital LP boosted its stake in Manchester United by 822.3% in the fourth quarter. Antara Capital LP now owns 184,450 shares of the company's stock worth $3,200,000 after buying an additional 164,450 shares in the last quarter. Northern Trust Corp grew its position in Manchester United by 59.2% during the fourth 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 last quarter. Finally, Ariel Investments LLC raised its stake in shares of 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. Hedge funds and other institutional investors own 23.34% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Manchester United from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.

Manchester United Trading Down 0.8%

Shares of NYSE MANU traded down $0.14 during midday trading on Friday, reaching $17.58. The company had a trading volume of 214,662 shares, compared to its average volume of 273,380. The stock has a market cap of $2.98 billion, a PE ratio of -35.87 and a beta of 0.66. Manchester United Ltd. has a one year low of $12.05 and a one year high of $19.65. The firm's fifty day moving average price is $15.91 and its 200-day moving average price is $15.21. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 2.54.

Manchester United (NYSE:MANU - Get Free Report) last announced its quarterly earnings data on Friday, June 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.29. The firm had revenue of $203.10 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($0.24) earnings per share. On average, equities research analysts anticipate that Manchester United Ltd. will post -0.74 earnings per share for the current year.

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.