5 Stocks Billionaire Leon Cooperman Just Bought and Sold

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In this article, we discuss 5 stocks billionaire Leon Cooperman just bought. If you want to read about Cooperman’s investment journey and more stocks he sold and bought in the third quarter of 2023, head over to 10 Stocks Billionaire Leon Cooperman Just Bought and Sold.

5. Manchester United plc (NYSE:MANU)

Omega Advisors’ Stake Value: $18.39 million

Manchester United plc (NYSE:MANU) is the owner and operator of the Manchester United Football Club – a professional sports team based in the United Kingdom. The company focuses on building marketing and sponsorship partnerships with international and regional businesses to enhance its brand recognition. Additionally, it engages in the marketing and sale of sports apparel, training gear, leisurewear, and other licensed products. Leon Cooperman added Manchester United plc (NYSE:MANU) to his portfolio in Q3 2023, taking up a stake of 929,078 shares worth $18.39 million.

On November 17, the stock of Manchester United plc (NYSE:MANU) rose 6% following news suggesting that British billionaire Jim Ratcliffe is nearing an agreement to purchase a portion of the renowned soccer club at approximately $33 per share.

According to Insider Monkey’s second quarter database, 28 hedge funds were bullish on Manchester United plc (NYSE:MANU), compared to 32 funds in the previous quarter. John W. Rogers’ Ariel Investments held the largest position in the company, with approximately 6.5 million shares worth $158.4 million.

Here is what Baron Focused Growth Fund has to say about Manchester United PLC (NYSE:MANU) in its Q1 2023 investor letter:

“Manchester United plc (NYSE:MANU) is the best-known team in the English Premier League and generates revenue from broadcasting, sponsorship, and licensing. Shares were down this quarter on uncertainty around the possibility and timing of Manchester United’s potential sale following the news in late 2022 that the club was exploring strategic alternatives. We retain conviction and continue to monitor bids and owner demands, with recent transactions of similar clubs suggesting that the stock is comparatively undervalued. In our view, Manchester United is a unique media company with over 1.1 billion fans globally and broad appeal that should compound value over the long term.”

Follow Manchester United Plc (NYSE:MANU)

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