Manchester United (NYSE:MANU) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Manchester United Ltd. (NYSE:MANU) crossed 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 traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MANU shares. Weiss Ratings restated a “sell (e+)” rating on shares of Manchester United in a report on Monday, December 22nd. Wall Street Zen lowered shares of Manchester United from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Manchester United Trading Up 0.9%

The company has a market cap of $3.07 billion, a P/E ratio of -254.45 and a beta of 0.50. The business’s 50-day moving average price is $17.07 and its 200 day moving average price is $16.51. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.30 and a current ratio of 0.32.

Manchester United (NYSE:MANU) last posted its quarterly 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 business had revenue of $255.92 million for the quarter, compared to the consensus estimate of $251.72 million. Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%. As a group, analysts expect that Manchester United Ltd. will post -0.74 earnings per share for the current year.

Hedge Funds Weigh In On Manchester United

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MANU. Royal Bank of Canada raised its position in shares of Manchester United by 65.0% in the first quarter. Royal Bank of Canada now owns 77,687 shares of the company’s stock valued at $1,017,000 after purchasing an additional 30,604 shares during the period. Jane Street Group LLC raised its holdings in Manchester United by 156.3% in the 1st quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock valued at $374,000 after acquiring an additional 79,290 shares during the period. Envestnet Asset Management Inc. raised its holdings in Manchester United by 105.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 63,042 shares of the company’s stock valued at $1,123,000 after acquiring an additional 32,297 shares during the period. Savant Capital LLC acquired a new stake in Manchester United during the second quarter worth approximately $195,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Manchester United by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 207,731 shares of the company’s stock worth $3,700,000 after acquiring an additional 20,251 shares during the period. 23.34% of the stock is owned by 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.