Manchester United (NYSE:MANU) Shares Cross Above 200-Day Moving Average – Here’s Why

Manchester United Ltd. (NYSE:MANU)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $19.82 and traded as high as $24.09. Manchester United shares last traded at $23.73, with a volume of 254,414 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MANU shares. Weiss Ratings upgraded shares of Manchester United from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Wall Street Zen upgraded shares of Manchester United from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Manchester United Stock Performance

The company has a market cap of $4.09 billion, a PE ratio of -169.49 and a beta of 0.59. The business’s 50-day moving average is $22.61 and its 200 day moving average is $19.82. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.35 and a current ratio of 0.37.

Manchester United (NYSE:MANU) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.10. Manchester United had a negative net margin of 2.67% and a positive return on equity of 0.64%. The business had revenue of $250.96 million during the quarter, compared to the consensus estimate of $220.94 million.

Institutional Investors Weigh In On Manchester United

Several institutional investors have recently bought and sold shares of MANU. Pinnacle Associates Ltd. grew its position in Manchester United by 30.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,404,151 shares of the company’s stock worth $22,354,000 after acquiring an additional 327,553 shares during the last quarter. Breach Inlet Capital Management LLC lifted its position in Manchester United by 3.5% in the fourth quarter. Breach Inlet Capital Management LLC now owns 1,223,216 shares of the company’s stock valued at $19,474,000 after purchasing an additional 41,933 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Manchester United by 110.9% during the first quarter. Gamco Investors INC. ET AL now owns 1,104,738 shares of the company’s stock valued at $18,582,000 after purchasing an additional 580,887 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Manchester United by 13.7% during the first quarter. Janus Henderson Group PLC now owns 645,790 shares of the company’s stock valued at $10,862,000 after purchasing an additional 77,804 shares during the period. Finally, Gabelli Funds LLC boosted its stake in shares of Manchester United by 26.2% during the first quarter. Gabelli Funds LLC now owns 619,318 shares of the company’s stock valued at $10,417,000 after purchasing an additional 128,655 shares during the period. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

About Manchester United

Manchester United plc is a global sports and entertainment company best known for its ownership and operation of Manchester United Football Club, one of the most prominent professional football clubs in the world. The company’s core activities include the organization and promotion of competitive football matches, management of club facilities such as Old Trafford stadium, and the development of youth and academy programs. As a publicly traded entity on the New York Stock Exchange (NYSE: MANU), Manchester United plc leverages its status to expand commercial partnerships and broaden its international footprint.

The company’s revenue streams are diversified across matchday operations, broadcast rights, commercial partnerships, and licensing and merchandising.