Manchester United Ltd. $MANU Stock Position Raised by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Manchester United stake by 23.7% in the first quarter, acquiring 51,500 additional shares for a total of 268,400 shares valued at approximately $4.5 million. Institutional investors collectively own 23.34% of MANU.
• MANU opened at $21.89, with a market capitalization of $3.78 billion and a 12-month trading range of $14.59 to $24.22. The company exceeded quarterly expectations, reporting $0.04 in EPS versus estimates of a $0.06 loss and revenue of $250.96 million.
• Analyst sentiment remains cautious: one analyst rates the stock Sell and MarketBeat reports an average rating of “Sell,” despite Wall Street Zen recently upgrading the shares to Hold.

Renaissance Technologies LLC increased its holdings in shares of Manchester United Ltd. (NYSE:MANU - Free Report) by 23.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 268,400 shares of the company's stock after acquiring an additional 51,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.16% of Manchester United worth $4,514,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Manchester United by 1.8% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 55,495 shares of the company's stock valued at $883,000 after purchasing an additional 1,000 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Manchester United by 14.9% in the 4th quarter. Deutsche Bank AG now owns 10,916 shares of the company's stock worth $174,000 after purchasing an additional 1,419 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Manchester United in the 2nd quarter worth approximately $29,000. Quarry LP acquired a new position in Manchester United during the 4th quarter valued at approximately $30,000. Finally, Twin Securities Inc. grew its stake in Manchester United by 21.6% during the 3rd quarter. Twin Securities Inc. now owns 14,763 shares of the company's stock worth $224,000 after buying an additional 2,620 shares during the last quarter. Institutional investors own 23.34% of the company's stock.

Manchester United Stock Performance

MANU opened at $21.89 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.35 and a debt-to-equity ratio of 2.73. The business's 50 day moving average is $22.42 and its 200-day moving average is $19.39. The stock has a market cap of $3.78 billion, a PE ratio of -156.38 and a beta of 0.59. Manchester United Ltd. has a twelve month low of $14.59 and a twelve month high of $24.22.

Manchester United (NYSE:MANU - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.10. The business had revenue of $250.96 million during the quarter, compared to analyst estimates of $220.94 million. Manchester United had a positive return on equity of 0.64% and a negative net margin of 2.67%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings raised Manchester United from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 15th. Wall Street Zen raised shares of Manchester United from a "sell" rating to a "hold" rating in a report on Sunday, May 31st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Manchester United Company Profile

Manchester United plc is a global sports and entertainment company best known for its ownership and operation of Manchester United Football Club, one of the most prominent professional football clubs in the world. The company's core activities include the organization and promotion of competitive football matches, management of club facilities such as Old Trafford stadium, and the development of youth and academy programs. As a publicly traded entity on the New York Stock Exchange NYSE: MANU, Manchester United plc leverages its status to expand commercial partnerships and broaden its international footprint.

The company's revenue streams are diversified across matchday operations, broadcast rights, commercial partnerships, and licensing and merchandising.

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