Michelson Medical Research Foundation Inc. Buys New Shares in Manchester United Ltd. $MANU

Key Points

• Michelson Medical Research Foundation Inc. has acquired 200,000 shares of Manchester United Ltd. (NYSE:MANU) for approximately $2.6 million, making it the firm's 14th largest holding.
• Manchester United's stock saw an increase of 2.3% and reported a negative earnings per share of ($0.04) for the latest quarter, which was better than analysts' expectations.
• Analyst ratings for Manchester United have improved, with Wall Street Zen upgrading the stock from a "sell" to a "hold" and a consensus price target set at $23.00.

Michelson Medical Research Foundation Inc. purchased a new position in Manchester United Ltd. (NYSE:MANU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 200,000 shares of the company's stock, valued at approximately $2,618,000. Manchester United accounts for about 2.1% of Michelson Medical Research Foundation Inc.'s investment portfolio, making the stock its 14th biggest position. Michelson Medical Research Foundation Inc. owned approximately 0.12% of Manchester United at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MANU. Tower Research Capital LLC TRC raised its holdings in shares of 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 purchasing an additional 758 shares during the period. Simon Quick Advisors LLC bought a new stake in shares of Manchester United in the 1st quarter worth approximately $137,000. Entropy Technologies LP bought a new stake in shares of Manchester United in the 1st quarter worth approximately $142,000. Point72 Asset Management L.P. bought a new stake in shares of Manchester United in the 4th quarter worth approximately $177,000. Finally, Vident Advisory LLC raised its holdings in Manchester United by 7.7% during the 1st quarter. Vident Advisory LLC now owns 14,578 shares of the company's stock valued at $191,000 after acquiring an additional 1,043 shares during the period. Institutional investors own 23.34% of the company's stock.

Analyst Ratings Changes

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

Manchester United Price Performance

Shares of Manchester United stock traded down $0.19 during trading on Friday, hitting $15.89. The stock had a trading volume of 245,031 shares, compared to its average volume of 222,763. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -32.42 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 business's 50-day moving average is $17.49 and its 200 day moving average is $15.52. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 2.54.

Manchester United (NYSE:MANU - Get Free Report) last released its quarterly earnings results on Friday, June 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.29. The firm 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 firm posted ($0.24) earnings per share. As a group, sell-side 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.