Manchester United (NYSE:MANU) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of Manchester United (NYSE:MANU) from a buy rating to a hold rating in a research note published on Tuesday, ValuEngine reports.

MANU has been the topic of several other reports. Zacks Investment Research cut shares of Manchester United from a buy rating to a hold rating in a research report on Saturday, September 28th. Bank of America set a $20.00 target price on shares of Manchester United and gave the stock a hold rating in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $21.25.

Manchester United stock traded up $0.03 during mid-day trading on Tuesday, hitting $18.08. The company’s stock had a trading volume of 234 shares, compared to its average volume of 90,500. The firm has a market capitalization of $742.80 million, a PE ratio of 56.41, a price-to-earnings-growth ratio of 28.15 and a beta of 0.72. Manchester United has a 1 year low of $15.30 and a 1 year high of $21.92. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 1.27. The stock’s fifty day moving average is $16.81 and its two-hundred day moving average is $17.43.

Manchester United (NYSE:MANU) last posted its earnings results on Tuesday, September 24th. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.04). Manchester United had a net margin of 2.15% and a return on equity of 8.44%. The business had revenue of $168.93 million during the quarter, compared to analysts’ expectations of $167.40 million. On average, equities analysts expect that Manchester United will post 0.03 EPS for the current fiscal year.

The company also recently announced a Semi-Annual dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 2nd will be given a $0.09 dividend. This represents a yield of 1.1%. The ex-dividend date is Friday, November 29th. Manchester United’s payout ratio is 56.25%.

A number of institutional investors and hedge funds have recently bought and sold shares of MANU. Massey Quick Simon & CO. LLC purchased a new position in Manchester United in the third quarter valued at $62,000. Bank of Montreal Can raised its position in Manchester United by 1,449.3% in the 2nd quarter. Bank of Montreal Can now owns 5,438 shares of the company’s stock valued at $98,000 after purchasing an additional 5,087 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Manchester United in the 2nd quarter valued at about $116,000. Wells Fargo & Company MN boosted its stake in shares of Manchester United by 38.9% in the 2nd quarter. Wells Fargo & Company MN now owns 12,216 shares of the company’s stock valued at $221,000 after buying an additional 3,421 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Manchester United during the third quarter worth about $300,000. 83.16% of the stock is currently owned by hedge funds and other institutional investors.

About Manchester United

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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