Bank of America Corp DE Grows Position in Manchester United PLC (NYSE:MANU)

Bank of America Corp DE raised its holdings in shares of Manchester United PLC (NYSE:MANU) by 17.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 103,291 shares of the company’s stock after purchasing an additional 15,255 shares during the quarter. Bank of America Corp DE’s holdings in Manchester United were worth $1,868,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in shares of Manchester United by 1,449.3% during the second quarter. Bank of Montreal Can now owns 5,438 shares of the company’s stock worth $98,000 after buying an additional 5,087 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Manchester United during the second quarter worth $116,000. Wells Fargo & Company MN grew its holdings in shares of Manchester United by 38.9% during the second quarter. Wells Fargo & Company MN now owns 12,216 shares of the company’s stock worth $221,000 after buying an additional 3,421 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Manchester United by 429.7% during the first quarter. Marshall Wace LLP now owns 75,693 shares of the company’s stock worth $1,455,000 after buying an additional 61,402 shares in the last quarter. Finally, Clark Estates Inc. NY grew its holdings in shares of Manchester United by 5.9% during the second quarter. Clark Estates Inc. NY now owns 110,450 shares of the company’s stock worth $1,997,000 after buying an additional 6,152 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Shares of MANU opened at $16.11 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. Manchester United PLC has a 12-month low of $15.30 and a 12-month high of $22.40. The firm has a 50-day moving average price of $16.65 and a 200 day moving average price of $17.96. The firm has a market capitalization of $655.10 million, a P/E ratio of 50.34 and a beta of 0.68.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Manchester United from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. ValuEngine raised shares of Manchester United from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Bank of America set a $20.00 price objective on shares of Manchester United and gave the company a “hold” rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Manchester United currently has a consensus rating of “Hold” and an average price target of $21.25.

Manchester United Profile

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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Institutional Ownership by Quarter for Manchester United (NYSE:MANU)

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