Citigroup Inc. Trims Stock Position in Manchester United plc (NYSE:MANU)

Citigroup Inc. decreased its stake in Manchester United plc (NYSE:MANU - Free Report) by 98.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,540 shares of the company's stock after selling 96,036 shares during the quarter. Citigroup Inc.'s holdings in Manchester United were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Tudor Investment Corp Et Al boosted its position in Manchester United by 284.3% during the third quarter. Tudor Investment Corp Et Al now owns 55,000 shares of the company's stock worth $1,088,000 after purchasing an additional 40,690 shares in the last quarter. Kepos Capital LP boosted its position in Manchester United by 30.8% during the third quarter. Kepos Capital LP now owns 175,000 shares of the company's stock worth $3,463,000 after purchasing an additional 41,196 shares in the last quarter. Eminence Capital LP boosted its position in Manchester United by 7.1% during the third quarter. Eminence Capital LP now owns 4,243,661 shares of the company's stock worth $83,982,000 after purchasing an additional 279,487 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Manchester United by 290.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 373,964 shares of the company's stock worth $7,401,000 after purchasing an additional 278,111 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in Manchester United by 57.3% during the third quarter. Bamco Inc. NY now owns 1,169,398 shares of the company's stock worth $23,142,000 after purchasing an additional 426,040 shares in the last quarter. Hedge funds and other institutional investors own 23.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com upgraded Manchester United to a "sell" rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft reduced their target price on Manchester United from $20.30 to $16.00 and set a "hold" rating for the company in a report on Thursday, March 14th.

Manchester United Price Performance

Shares of NYSE MANU traded down $0.09 during midday trading on Wednesday, hitting $13.98. The stock had a trading volume of 527,323 shares, compared to its average volume of 1,680,982. The company has a market capitalization of $2.30 billion, a PE ratio of -127.09 and a beta of 0.76. The stock has a 50 day simple moving average of $16.58 and a 200-day simple moving average of $18.33. Manchester United plc has a 1 year low of $13.50 and a 1 year high of $26.64. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 5.28.

Manchester United (NYSE:MANU - Get Free Report) last released its earnings results on Wednesday, January 17th. The company reported ($0.07) earnings per share for the quarter. The firm had revenue of $157.10 million during the quarter, compared to analysts' expectations of $175.00 million. Manchester United had a negative net margin of 1.98% and a negative return on equity of 12.29%. During the same quarter last year, the business earned ($6.18) EPS. On average, sell-side analysts expect that Manchester United plc will post -0.37 EPS for the current fiscal 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.