Alan B Lancz & Associates Inc. Cuts Stock Position in Manchester United plc (NYSE:MANU)

Alan B Lancz & Associates Inc. lessened its holdings in shares of Manchester United plc (NYSE:MANU) by 8.2% during the 3rd quarter, Holdings Channel reports. The firm owned 18,005 shares of the company’s stock after selling 1,599 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Manchester United were worth $291,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MANU. BNP Paribas Financial Markets grew its position in shares of Manchester United by 912.0% during the first quarter. BNP Paribas Financial Markets now owns 2,277 shares of the company’s stock worth $32,000 after buying an additional 2,052 shares in the last quarter. Emfo LLC purchased a new stake in shares of Manchester United during the 2nd quarter worth $50,000. Dnca Finance acquired a new position in shares of Manchester United during the second quarter worth $53,000. Simplicity Wealth LLC grew its stake 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 worth $3,750,000 after purchasing an additional 3,483 shares in the last quarter. Finally, Nkcfo LLC purchased a new position in Manchester United in the second quarter valued at $113,000. 23.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft upped their price objective on Manchester United from $16.00 to $18.50 and gave the stock a “hold” rating in a research report on Wednesday, July 24th.

Manchester United Stock Performance

Shares of Manchester United stock opened at $17.90 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 3.53. Manchester United plc has a 52 week low of $13.50 and a 52 week high of $22.00. The firm’s 50 day moving average is $16.39 and its two-hundred day moving average is $16.54. The firm has a market capitalization of $3.03 billion, a P/E ratio of -20.57 and a beta of 0.69.

Manchester United (NYSE:MANU) last posted its earnings results on Wednesday, September 11th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The firm had revenue of $179.43 million for the quarter, compared to the consensus estimate of $180.82 million. Manchester United had a negative net margin of 17.28% and a negative return on equity of 55.05%. Research analysts forecast that Manchester United plc will post -0.74 EPS for the current fiscal year.

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.