Manchester United Ltd. (MANU) Receives “Buy” Rating from Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Manchester United Ltd. (NYSE:MANU) in a research report sent to investors on Wednesday. Jefferies Group LLC currently has a $19.00 price objective on the stock.

Several other brokerages have also recently weighed in on MANU. BidaskClub raised shares of Manchester United from a hold rating to a buy rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Manchester United from a hold rating to a strong sell rating in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG reissued a buy rating and set a $19.00 price target (up previously from $18.00) on shares of Manchester United in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $19.85.

Shares of Manchester United (NYSE:MANU) remained flat at $16.75 during trading on Wednesday. The company’s stock had a trading volume of 5,927 shares. Manchester United has a 12 month low of $14.10 and a 12 month high of $18.30. The firm has a market capitalization of $2.75 billion, a PE ratio of 149.55 and a beta of 0.53. The company has a 50 day moving average of $16.77 and a 200-day moving average of $16.55.

Manchester United (NYSE:MANU) last announced its quarterly earnings results on Tuesday, May 16th. The company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $119.67 million. Manchester United had a net margin of 2.51% and a return on equity of 4.36%. The firm’s revenue for the quarter was up 931.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. On average, analysts expect that Manchester United will post $16.02 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oxford Asset Management raised its position in shares of Manchester United by 21.0% in the first quarter. Oxford Asset Management now owns 20,558 shares of the company’s stock valued at $347,000 after buying an additional 3,570 shares during the period. Bank of America Corp DE raised its position in shares of Manchester United by 19.6% in the first quarter. Bank of America Corp DE now owns 26,160 shares of the company’s stock valued at $442,000 after buying an additional 4,290 shares during the period. OxFORD Asset Management LLP raised its position in shares of Manchester United by 34.5% in the second quarter. OxFORD Asset Management LLP now owns 27,647 shares of the company’s stock valued at $449,000 after buying an additional 7,089 shares during the period. Gabelli Funds LLC raised its position in shares of Manchester United by 6.9% in the first quarter. Gabelli Funds LLC now owns 31,000 shares of the company’s stock valued at $524,000 after buying an additional 2,000 shares during the period. Finally, State Street Corp raised its position in shares of Manchester United by 0.9% in the second quarter. State Street Corp now owns 43,138 shares of the company’s stock valued at $701,000 after buying an additional 395 shares during the period. Institutional investors and hedge funds own 73.12% of the company’s stock.

Manchester United Company Profile

Manchester United plc is engaged in the operation of a professional football club together with related and ancillary activities. Its football operations primarily comprise various activities, such as its first team, reserve team, youth academy, global scouting networks and other operations, such as its sport science, medical and fitness operations at the Aon Training Complex.

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