Why Are These 5 Stocks Making Moves Today?

Legacy Up on Momentum

Shares of Legacy Reserves LP (NASDAQ:LGCY), an independent oil and natural gas limited partnership focused on the acquisition and development of oil and gas properties located in the Permian Basin, Mid-continent and Rocky Mountains regions, have surged by 28% today following Friday’s 44% rally as technical traders try to catch some of the follow-on momentum. Some investors were worried that Legacy Reserves LP (NASDAQ:LGCY) might be delisted from the NASDAQ due to the company’s less than $1 per share value in early April. Given the current rally, however, the delisting is no longer a concern at the moment. As with all micro-caps, investors should do their due-diligence before buying. Jim Simons‘ Renaissance Technologies was among three savvy funds that we track which held shares of the company at the end of 2015.

Manchester United Higher Due to Ron Baron Plug

Manchester United PLC (NYSE:MANU) is benefiting from the “Barron’s Lift” today, after fund manager Ron Baron said the following in a Barron’s column this weekend:

“We own 10%. Soccer is the most popular sport in the world. It’s like 40 Super Bowls. As contracts get repriced, they will get much higher media rates. The revenue will go from $577.5 million when we bought it in 2013 to $1.2 billion in 2020, and cash flow will go from $171.2 million to $475 million. I think it will be worth $6 billion or $7 billion. The stock will sell at $40 [versus $14.80 last week].”

Shares of Manchester United PLC (NYSE:MANU) have rallied by more than 3% on the plug. Seven elite funds in our database had shares of Manchester United in their portfolios as of December 31.

Oi SA Rallies on Restructuring News

Nano-cap Oi SA (ADR) (NYSE:OIBR) is 7% higher after Reuters reported that the company has formally entered talks to potentially restructure $14.3 billion of its bonds. Oi is heavily in debt and its current debt structure seems unsustainable. A restructuring could potentially lead to the acquisition of Oi by another firm. Nine funds that we track owned Oi SA (ADR) (NYSE:OIBR) at the end of 2015. As with all nano-caps, investors are urged to do their due-diligence before investing.

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