Gabelli Funds LLC Purchases 36,507 Shares of Manchester United plc (NYSE:MANU)

Gabelli Funds LLC lifted its holdings in shares of Manchester United plc (NYSE:MANU) by 10.7% during the 2nd quarter, Holdings Channel reports. The firm owned 377,383 shares of the company’s stock after purchasing an additional 36,507 shares during the quarter. Gabelli Funds LLC’s holdings in Manchester United were worth $6,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MANU. BNP Paribas Financial Markets lifted its holdings in shares of Manchester United by 912.0% in the 1st quarter. BNP Paribas Financial Markets now owns 2,277 shares of the company’s stock worth $32,000 after purchasing an additional 2,052 shares in the last quarter. Emfo LLC purchased a new position in shares of Manchester United in the 2nd quarter worth approximately $50,000. Dnca Finance bought a new position in shares of Manchester United in the second quarter valued at approximately $53,000. Simplicity Wealth LLC increased its position in shares of Manchester United by 1.5% during the second quarter. Simplicity Wealth LLC now owns 232,370 shares of the company’s stock valued at $3,750,000 after acquiring an additional 3,483 shares during the last quarter. Finally, Nkcfo LLC purchased a new stake in shares of Manchester United during the second quarter valued at approximately $113,000. 23.34% of the stock is currently owned by institutional investors.

Manchester United Trading Down 0.3 %

Shares of MANU stock opened at $16.01 on Wednesday. The company has a 50 day moving average of $16.84 and a 200-day moving average of $16.10. Manchester United plc has a 12-month low of $13.50 and a 12-month high of $22.00. The firm has a market cap of $2.64 billion, a P/E ratio of -25.81 and a beta of 0.69. 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) last released its quarterly earnings data on Wednesday, July 10th. The company reported ($0.31) EPS for the quarter. The business had revenue of $173.36 million for the quarter. Manchester United had a negative net margin of 17.28% and a negative return on equity of 68.53%. Sell-side analysts anticipate that Manchester United plc will post -0.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MANU. StockNews.com upgraded Manchester United to a “sell” rating in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Manchester United from $16.00 to $18.50 and gave the company a “hold” rating in a research report on Wednesday, July 24th.

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.