Manchester United (NYSE:MANU) Trading Up 11.7% – Here’s Why

Manchester United Ltd. (NYSE:MANU) shares were up 11.7% on Thursday . The stock traded as high as $23.13 and last traded at $23.5850. Approximately 104,823 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 351,612 shares. The stock had previously closed at $21.11.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MANU shares. Weiss Ratings restated a “sell (e+)” rating on shares of Manchester United in a report on Monday. Wall Street Zen raised 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, According to MarketBeat, the company currently has an average rating of “Sell”.

Manchester United Trading Down 2.8%

The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -156.99 and a beta of 0.61. The business has a fifty day moving average price of $18.70 and a 200 day moving average price of $17.30. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.37 and a quick ratio of 0.35.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MANU. Royal Bank of Canada lifted its holdings in shares of Manchester United by 65.0% during the first quarter. Royal Bank of Canada now owns 77,687 shares of the company’s stock worth $1,017,000 after buying an additional 30,604 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Manchester United by 156.3% during the first quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock worth $374,000 after buying an additional 79,290 shares during the last quarter. JPMorgan Chase & Co. lifted 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 buying an additional 20,251 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Manchester United by 105.3% during the second quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock worth $114,000 after buying an additional 3,273 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Manchester United by 48.9% during the second quarter. Marshall Wace LLP now owns 283,574 shares of the company’s stock worth $5,050,000 after buying an additional 93,111 shares during the last quarter. 23.34% of the stock is currently owned by institutional investors and hedge funds.

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.