Published on 11 Oct 2022 on Insider Monkey via Yahoo Finance
Is it Worth Investing in Manchester United (MANU)?
East 72, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. A quarterly gross portfolio return of -5.7% was recorded by the fund for the third quarter of 2022. After a stunning 8.9% rally in July, the S&P500 saw declines in both August (4.2%) and September (9.3%) to see the key global index some 5.3% lower at quarter-end against June 2022. The index is now back to mid-November 2020 levels. . Try to spare some time to check the fund's top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, East 72 Fund mentioned Manchester United plc (NYSE:MANU) and explained its insights for the company. Founded in 1878, Manchester United plc (NYSE:MANU) is an Old Trafford, Stretford-based sports teams and clubs company with a $2.1 billion market capitalization. Manchester United plc (NYSE:MANU) delivered a -6.25% return since the beginning of the year, while its 12-month returns are down by -16.87%. The stock closed at $13.35 per share on October 10, 2022.
Here is what East 72 Fund has to say about Manchester United plc (NYSE:MANU) in its Q3 2022 investor letter: