Harvey Partners LLC Buys 452,000 Shares of Manchester United plc (NYSE:MANU)

Harvey Partners LLC boosted its position in shares of Manchester United plc (NYSE:MANU) by 156.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 740,000 shares of the company’s stock after acquiring an additional 452,000 shares during the period. Manchester United accounts for about 1.4% of Harvey Partners LLC’s holdings, making the stock its 29th biggest position. Harvey Partners LLC owned 0.44% of Manchester United worth $11,973,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Twin Securities Inc. boosted its position in Manchester United by 7.0% in the third quarter. Twin Securities Inc. now owns 36,266 shares of the company’s stock worth $587,000 after purchasing an additional 2,358 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Manchester United during the 3rd quarter valued at about $274,000. Verition Fund Management LLC acquired a new stake in Manchester United in the 3rd quarter worth about $209,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Manchester United during the 3rd quarter valued at approximately $49,000. Finally, Lancaster Investment Management purchased a new stake in shares of Manchester United during the third quarter worth $9,094,000. Hedge funds and other institutional investors own 23.34% of the company’s stock.

Manchester United Stock Up 1.8 %

NYSE MANU opened at $17.29 on Tuesday. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.36 and a quick ratio of 0.35. The firm has a 50-day moving average price of $16.63 and a 200 day moving average price of $16.68. Manchester United plc has a 52-week low of $13.50 and a 52-week high of $22.00.

Manchester United (NYSE:MANU) last announced its quarterly earnings data on Wednesday, September 11th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. The company had revenue of $179.43 million during the quarter, compared to analyst estimates of $180.82 million. Manchester United had a negative return on equity of 37.41% and a negative net margin of 13.36%. On average, equities research analysts predict that Manchester United plc will post -0.54 earnings per share for the current fiscal year.

Manchester United 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.