Manchester United (NYSE:MANU) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of Manchester United Ltd. (NYSE:MANU) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.51 and traded as high as $17.96. Manchester United shares last traded at $17.8140, with a volume of 344,095 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MANU. Wall Street Zen downgraded shares of Manchester United from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Manchester United in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Manchester United Price Performance

The stock has a 50 day moving average of $17.10 and a 200-day moving average of $16.52. The company has a current ratio of 0.32, a quick ratio of 0.30 and a debt-to-equity ratio of 2.52.

Manchester United (NYSE:MANU) last issued its earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The company had revenue of $255.92 million for the quarter, compared to analysts’ expectations of $251.72 million. Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%. Research analysts expect that Manchester United Ltd. will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ariel Investments LLC grew its position in shares of Manchester United by 5.2% in the 2nd quarter. Ariel Investments LLC now owns 9,024,434 shares of the company’s stock worth $160,725,000 after buying an additional 449,105 shares during the last quarter. Cooperman Leon G boosted its stake in Manchester United by 0.6% in the third quarter. Cooperman Leon G now owns 2,857,877 shares of the company’s stock valued at $43,268,000 after acquiring an additional 18,140 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Manchester United by 30.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 1,404,151 shares of the company’s stock worth $22,354,000 after purchasing an additional 327,553 shares during the last quarter. Breach Inlet Capital Management LLC increased its position in shares of Manchester United by 3.5% during the fourth quarter. Breach Inlet Capital Management LLC now owns 1,223,216 shares of the company’s stock worth $19,474,000 after purchasing an additional 41,933 shares in the last quarter. Finally, Harvey Partners LLC lifted its holdings in shares of Manchester United by 15.8% during the 3rd quarter. Harvey Partners LLC now owns 1,102,500 shares of the company’s stock valued at $16,692,000 after purchasing an additional 150,802 shares during the last quarter. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

Manchester United Company Profile

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.