Manchester United (NYSE:MANU) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Manchester United Ltd. (NYSE:MANU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.52 and traded as high as $17.81. Manchester United shares last traded at $17.6820, with a volume of 415,753 shares traded.

Wall Street Analysts Forecast Growth

MANU has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Manchester United from a “hold” rating to a “strong sell” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Manchester United in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Manchester United presently has a consensus rating of “Sell”.

Manchester United Price Performance

The company has a debt-to-equity ratio of 2.58, a current ratio of 0.31 and a quick ratio of 0.29. The company’s 50 day moving average is $16.02 and its 200 day moving average is $16.52. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -57.04 and a beta of 0.57.

Manchester United (NYSE:MANU) last issued its earnings results on Thursday, December 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). Manchester United had a negative net margin of 6.14% and a negative return on equity of 10.21%. The company had revenue of $188.66 million during the quarter, compared to analysts’ expectations of $191.16 million. Research analysts forecast that Manchester United Ltd. will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of Manchester United

A number of institutional investors have recently bought and sold shares of the company. Ariel Investments LLC grew its position in shares of Manchester United by 5.2% in the second quarter. Ariel Investments LLC now owns 9,024,434 shares of the company’s stock valued at $160,725,000 after purchasing an additional 449,105 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Manchester United by 105.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 63,042 shares of the company’s stock worth $1,123,000 after purchasing an additional 32,297 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Manchester United by 52.1% in the 2nd quarter. Bleakley Financial Group LLC now owns 74,984 shares of the company’s stock valued at $1,335,000 after buying an additional 25,671 shares in the last quarter. Alpine Woods Capital Investors LLC acquired a new stake in Manchester United during the 2nd quarter valued at $189,000. Finally, Alan B Lancz & Associates Inc. increased its position in Manchester United by 11.1% during the second quarter. Alan B Lancz & Associates Inc. now owns 18,005 shares of the company’s stock worth $321,000 after buying an additional 1,800 shares in the last quarter. 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.