Byrne Asset Management LLC cut its stake in shares of Manchester United plc (NYSE:MANU – Free Report) by 23.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,169 shares of the company’s stock after selling 661 shares during the period. Byrne Asset Management LLC’s holdings in Manchester United were worth $30,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of MANU. Barclays PLC raised its position in Manchester United by 74.1% during the third quarter. Barclays PLC now owns 184,918 shares of the company’s stock valued at $3,660,000 after buying an additional 78,684 shares during the period. Adage Capital Partners GP L.L.C. raised 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 valued at $7,401,000 after buying an additional 278,111 shares during the period. Bamco Inc. NY raised 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 valued at $23,142,000 after buying an additional 426,040 shares during the period. Eminence Capital LP raised 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 valued at $83,982,000 after buying an additional 279,487 shares during the period. Finally, Senvest Management LLC acquired a new position in Manchester United during the fourth quarter valued at $8,487,000. 23.34% of the stock is owned by institutional investors and hedge funds.
Manchester United Stock Performance
NYSE:MANU traded down $0.24 during mid-day trading on Tuesday, hitting $16.20. 474,922 shares of the company’s stock traded hands, compared to its average volume of 1,423,256. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -147.82 and a beta of 0.76. The firm has a 50 day moving average of $14.76 and a two-hundred day moving average of $17.76. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 5.28. Manchester United plc has a 12 month low of $13.50 and a 12 month high of $26.64.
Analysts Set New Price Targets
A number of research analysts have commented on the company. StockNews.com upgraded Manchester United to a “sell” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lowered their target price on Manchester United from $20.30 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, March 14th.
Read Our Latest Stock Analysis on Manchester United
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.
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