Manchester United (NYSE:MANU) Upgraded at StockNews.com

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

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

Manchester United Price Performance

Manchester United stock opened at $16.22 on Tuesday. Manchester United has a 1 year low of $13.50 and a 1 year high of $22.00. The company’s 50 day simple moving average is $16.95 and its 200-day simple moving average is $16.79. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -24.58 and a beta of 0.66. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.35 and a current ratio of 0.36.

Institutional Investors Weigh In On Manchester United

Institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in Manchester United in the 2nd quarter valued at approximately $364,000. Gabelli Funds LLC increased its position in Manchester United by 10.7% during the 2nd quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock worth $6,091,000 after purchasing an additional 36,507 shares in the last quarter. Ariel Investments LLC raised its stake in shares of Manchester United by 50.9% in 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. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Manchester United in the second quarter valued at about $686,000. Finally, Lancaster Investment Management purchased a new position in Manchester United in the third quarter valued at about $9,094,000. Institutional investors and hedge funds own 23.34% of the company’s stock.

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.