Manchester United PLC (NYSE:MANU) was in 12 hedge funds’ portfolio at the end of March. MANU has seen an increase in hedge fund sentiment recently. There were 7 hedge funds in our database with MANU holdings at the end of the previous quarter.
In the financial world, there are a multitude of indicators market participants can use to watch stocks. Two of the most under-the-radar are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite hedge fund managers can outperform their index-focused peers by a significant margin (see just how much).
Just as key, optimistic insider trading activity is another way to break down the stock market universe. Obviously, there are a variety of stimuli for an insider to cut shares of his or her company, but only one, very simple reason why they would buy. Various academic studies have demonstrated the useful potential of this method if shareholders know what to do (learn more here).
With all of this in mind, let’s take a glance at the recent action encompassing Manchester United PLC (NYSE:MANU).
What does the smart money think about Manchester United PLC (NYSE:MANU)?
At the end of the first quarter, a total of 12 of the hedge funds we track were long in this stock, a change of 71% from the first quarter. With hedgies’ sentiment swirling, there exists a select group of notable hedge fund managers who were upping their stakes meaningfully.
According to our comprehensive database, Soros Fund Management, managed by George Soros, holds the most valuable position in Manchester United PLC (NYSE:MANU). Soros Fund Management has a $49.7 million position in the stock, comprising 0.6% of its 13F portfolio. The second largest stake is held by Paul Ruddock and Steve Heinz of Lansdowne Partners, with a $40.6 million position; 0.6% of its 13F portfolio is allocated to the stock. Other hedge funds that are bullish include Noam Gottesman’s GLG Partners, Charles Clough’s Clough Capital Partners and Rob Citrone’s Discovery Capital Management.
With a general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. Clough Capital Partners, managed by Charles Clough, initiated the largest position in Manchester United PLC (NYSE:MANU). Clough Capital Partners had 5.2 million invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also initiated a $0.4 million position during the quarter. The other funds with new positions in the stock are Drew Cupps’s Cupps Capital Management, Israel Englander’s Millennium Management, and Mike Vranos’s Ellington.
What do corporate executives and insiders think about Manchester United PLC (NYSE:MANU)?
Bullish insider trading is most useful when the company we’re looking at has seen transactions within the past half-year. Over the latest half-year time period, Manchester United PLC (NYSE:MANU) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Manchester United PLC (NYSE:MANU). These stocks are Steinway Musical Instruments Inc (NYSE:LVB), Movado Group, Inc (NYSE:MOV), SHFL entertainment Inc (NASDAQ:SHFL), Fossil Inc (NASDAQ:FOSL), and Brunswick Corporation (NYSE:BC). This group of stocks belong to the recreational goods, other industry and their market caps match MANU’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Steinway Musical Instruments Inc (NYSE:LVB) | 6 | 0 | 0 |
| Movado Group, Inc (NYSE:MOV) | 24 | 0 | 2 |
| SHFL entertainment Inc (NASDAQ:SHFL) | 14 | 0 | 3 |
| Fossil Inc (NASDAQ:FOSL) | 25 | 0 | 5 |
| Brunswick Corporation (NYSE:BC) | 27 | 0 | 8 |
With the results demonstrated by the aforementioned time-tested strategies, everyday investors must always monitor hedge fund and insider trading sentiment, and Manchester United PLC (NYSE:MANU) applies perfectly to this mantra.
