Manchester United (MANU) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Manchester United (NYSE:MANU) from a buy rating to a hold rating in a research report released on Wednesday morning, ValuEngine reports.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Manchester United from a hold rating to a buy rating and set a $22.00 price target for the company in a research report on Thursday, February 7th. Deutsche Bank set a $20.00 price target on shares of Manchester United and gave the stock a hold rating in a research report on Wednesday, February 20th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Manchester United presently has an average rating of Hold and a consensus price target of $23.25.

Shares of NYSE:MANU traded up $0.04 during trading hours on Wednesday, hitting $19.04. 142,494 shares of the company’s stock traded hands, compared to its average volume of 40,738. Manchester United has a 52 week low of $16.91 and a 52 week high of $27.70. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.11. The firm has a market cap of $765.22 million, a price-to-earnings ratio of 136.00, a price-to-earnings-growth ratio of 4.34 and a beta of 0.62.

Manchester United (NYSE:MANU) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. Manchester United had a net margin of 3.67% and a return on equity of 13.56%. The company had revenue of $152.10 million during the quarter, compared to analyst estimates of $156.97 million. During the same quarter last year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts forecast that Manchester United will post 0.2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of MANU. Acadian Asset Management LLC raised its position in Manchester United by 443.9% during the fourth quarter. Acadian Asset Management LLC now owns 1,686 shares of the company’s stock valued at $32,000 after acquiring an additional 1,376 shares in the last quarter. Quantamental Technologies LLC bought a new position in Manchester United during the fourth quarter valued at approximately $37,000. Landsberg Bennett & Dubbaneh LLC bought a new position in Manchester United during the fourth quarter valued at approximately $238,000. BlueCrest Capital Management Ltd bought a new position in Manchester United during the first quarter valued at approximately $284,000. Finally, Marshall Wace LLP bought a new position in Manchester United during the third quarter valued at approximately $345,000. 83.70% of the stock is owned by institutional investors and hedge funds.

About Manchester United

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand.

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