Manchester United PLC (NYSE:MANU) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 43,700 shares, a decrease of 39.1% from the July 31st total of 71,700 shares. Based on an average daily volume of 46,300 shares, the short-interest ratio is currently 0.9 days. Approximately 0.1% of the shares of the company are sold short.

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings 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 worth $98,000 after buying an additional 5,087 shares during the period. Aperio Group LLC bought a new position in Manchester United in the 2nd quarter worth $116,000. Wells Fargo & Company MN boosted its holdings in Manchester United by 38.9% in the 2nd 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 during the period. Geode Capital Management LLC boosted its holdings in Manchester United by 47.3% in the 4th quarter. Geode Capital Management LLC now owns 18,378 shares of the company’s stock worth $348,000 after buying an additional 5,905 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Manchester United by 1,654.5% in the 1st quarter. Acadian Asset Management LLC now owns 29,581 shares of the company’s stock worth $569,000 after buying an additional 27,895 shares during the period. 82.70% of the stock is owned by institutional investors.

Manchester United stock traded up $0.10 during mid-day trading on Friday, hitting $17.30. The stock had a trading volume of 145,300 shares, compared to its average volume of 58,246. The firm has a market capitalization of $691.27 million, a P/E ratio of 123.57, a P/E/G ratio of 25.96 and a beta of 0.69. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The firm’s 50 day moving average is $17.47 and its 200 day moving average is $18.62. Manchester United has a one year low of $16.68 and a one year high of $25.20.

Several research firms have recently commented on MANU. ValuEngine lowered Manchester United from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Manchester United from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.75.

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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