Manchester United Ltd. (NYSE:MANU) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its holdings in shares of Manchester United Ltd. (NYSE:MANU - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,220,239 shares of the company's stock after selling 27,152 shares during the period. Pinnacle Associates Ltd. owned about 0.72% of Manchester United worth $15,973,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Krilogy Financial LLC increased its stake in Manchester United by 233.3% during the 1st quarter. Krilogy Financial LLC now owns 40,000 shares of the company's stock worth $524,000 after buying an additional 28,000 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in Manchester United during the 4th quarter worth approximately $783,000. Lancaster Investment Management grew its holdings in Manchester United by 7.8% during the 1st 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. Bleakley Financial Group LLC grew its holdings in Manchester United by 105.5% during the 1st quarter. Bleakley Financial Group LLC now owns 49,313 shares of the company's stock worth $646,000 after acquiring an additional 25,321 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Manchester United during the 4th quarter worth approximately $493,000. 23.34% of the stock is owned by hedge funds and other institutional investors.

Manchester United Stock Down 1.2%

NYSE MANU traded down $0.22 on Thursday, hitting $17.95. 187,880 shares of the stock were exchanged, compared to its average volume of 260,380. 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 Ltd. has a fifty-two week low of $12.05 and a fifty-two week high of $19.65. The company has a market cap of $3.04 billion, a PE ratio of -36.63 and a beta of 0.66. The company has a 50-day moving average price of $16.46 and a 200-day moving average price of $15.25.

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, beating the consensus estimate of ($0.33) by $0.29. Manchester United had a negative net margin of 10.09% and a negative return on equity of 22.40%. 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 prior year, the business posted ($0.24) EPS. Sell-side analysts anticipate that Manchester United Ltd. will post -0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Manchester United

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.