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What Makes Manchester United plc (MANU) Stock Attractive?

Ariel Investment, an investment management company, released its “Ariel Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund generated a loss of -7.47%, underperforming the Russell 2500 Value Index, which returned a loss of -4.50%, and the Russell 2500 Index, which returned a -2.82% loss. Inflation concerns, Russia-Ukraine tension, energy price, and Federal Reserve’s aggressive actions impacted the investors’ confidence in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Ariel Investment highlighted stocks like Manchester United plc (NYSE:MANU) in the Q3 2022 investor letter. Headquartered in Manchester, the United Kingdom, Manchester United plc (NYSE:MANU) is a professional sports team operator. On December 1, 2022, Manchester United plc (NYSE:MANU) stock closed at $22.56 per share. One-month return of Manchester United plc (NYSE:MANU) was 74.48% and its shares gained 51.21% of their value over the last 52 weeks. Manchester United plc (NYSE:MANU) has a market capitalization of $3.679 billion.

Ariel Investment made the following comment about Manchester United plc (NYSE:MANU) in its Q3 2022 investor letter:

"Additionally, professional football club operator Manchester United plc (NYSE:MANU) traded up on headlines that the Glazer Family is open to a full or partial sale of their stake. This iconic football club sports a global following north of 1 billion fans and plays in the English Premier League (EPL), the most watched professional sports league in the world. We expect MANU to continue to leverage its global brand to drive a larger revenue base enabling the acquisition of top talent to field competitive teams. We also believe MANU’s commercial opportunity for global partnerships, sponsorships and media rights remains robust. We view the near- and long-term outlook for MANU to be attractive."

Manchester City, Football
Manchester City, Football

Photo by Nat Callaghan on Unsplash

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Manchester United plc (NYSE:MANU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Manchester United plc (NYSE:MANU) at the end of the third quarter which was 16 in the previous quarter.

We discussed Manchester United plc (NYSE:MANU) in another article and shared the list of leisure stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.