Manchester United (NYSE:MANU) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Manchester United (NYSE:MANU) to a sell rating in a research note published on Tuesday.

Separately, UBS Group initiated coverage on Manchester United in a research note on Tuesday, December 17th. They set a “buy” rating and a $23.00 price objective for the company.

Manchester United Stock Up 2.1 %

NYSE:MANU opened at $16.35 on Tuesday. The company has a 50-day moving average of $17.00 and a 200 day moving average of $16.80. Manchester United has a 1-year low of $13.50 and a 1-year high of $22.00. The firm has a market cap of $2.77 billion, a PE ratio of -24.77 and a beta of 0.66. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.36 and a quick ratio of 0.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ariel Investments LLC grew its position in shares of Manchester United by 50.9% during the 2nd quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock valued at $129,234,000 after acquiring an additional 2,700,337 shares during the period. Harvey Partners LLC raised its holdings in Manchester United by 156.9% in the 3rd quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock worth $11,973,000 after purchasing an additional 452,000 shares during the period. Janus Henderson Group PLC boosted its position in Manchester United by 24.5% during the third quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock worth $9,950,000 after purchasing an additional 121,211 shares in the last quarter. Lancaster Investment Management acquired a new stake in Manchester United in the third quarter valued at approximately $9,094,000. Finally, Gabelli Funds LLC increased its position in shares of Manchester United by 10.7% in the second quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock valued at $6,091,000 after buying an additional 36,507 shares in the last quarter. Hedge funds and other institutional investors own 23.34% of the company’s stock.

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.