Stock Traders Buy High Volume of Put Options on Manchester United (NYSE:MANU)

Manchester United plc (NYSE:MANU) saw unusually large options trading on Monday. Investors purchased 6,133 put options on the company. This represents an increase of approximately 711% compared to the average daily volume of 756 put options.

Analysts Set New Price Targets

A number of research analysts have recently commented on MANU shares. StockNews.com raised Manchester United to a “sell” rating in a report on Tuesday, January 21st. UBS Group started coverage on shares of Manchester United in a research note on Tuesday, December 17th. They issued a “buy” rating and a $23.00 price target for the company.

Institutional Trading of Manchester United

Several institutional investors and hedge funds have recently added to or reduced their stakes in MANU. EverSource Wealth Advisors LLC raised its holdings in shares of Manchester United by 129.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,109 shares of the company’s stock valued at $37,000 after acquiring an additional 1,188 shares during the period. Blue Trust Inc. grew its stake in Manchester United by 127.7% during the 4th quarter. Blue Trust Inc. now owns 3,358 shares of the company’s stock valued at $58,000 after acquiring an additional 1,883 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Manchester United by 15.8% in the 4th quarter. Miracle Mile Advisors LLC now owns 16,900 shares of the company’s stock valued at $293,000 after purchasing an additional 2,300 shares during the period. Twin Securities Inc. lifted its position in shares of 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 in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Manchester United during the third quarter worth approximately $49,000. 23.34% of the stock is owned by institutional investors and hedge funds.

Manchester United Price Performance

Manchester United stock traded down $0.04 during midday trading on Monday, hitting $16.04. The company’s stock had a trading volume of 46,779 shares, compared to its average volume of 197,902. Manchester United has a 12 month low of $13.50 and a 12 month high of $21.92. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 3.25. The stock’s 50-day moving average price is $16.71 and its 200-day moving average price is $16.73. The company has a market capitalization of $2.72 billion, a PE ratio of -24.17 and a beta of 0.65.

About Manchester United

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.