UBS Group Initiates Coverage on Manchester United (NYSE:MANU)

Equities researchers at UBS Group began coverage on shares of Manchester United (NYSE:MANU) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $23.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 30.39% from the company’s current price.

Separately, StockNews.com upgraded Manchester United to a “sell” rating in a research report on Wednesday, December 4th.

Manchester United Price Performance

Shares of NYSE:MANU opened at $17.64 on Tuesday. Manchester United has a one year low of $13.50 and a one year high of $22.00. The stock has a market cap of $2.99 billion, a PE ratio of -26.73 and a beta of 0.68. The business’s fifty day moving average price is $16.92 and its two-hundred day moving average price is $16.74. 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ariel Investments LLC boosted its stake in Manchester United by 50.9% in the 2nd quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock worth $129,234,000 after buying an additional 2,700,337 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Manchester United by 15.9% in the second quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company’s stock worth $21,814,000 after acquiring an additional 185,271 shares during the last quarter. Harvey Partners LLC boosted its position in shares of Manchester United by 156.9% in the third quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock worth $11,973,000 after acquiring an additional 452,000 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Manchester United by 24.5% in the third quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock valued at $9,950,000 after purchasing an additional 121,211 shares during the period. Finally, Lancaster Investment Management acquired a new position in Manchester United during the third quarter worth approximately $9,094,000. 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.