Manchester United (NYSE:MANU) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Manchester United (NYSE:MANU) announced its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06), FiscalAI reports. Manchester United had a negative net margin of 1.39% and a negative return on equity of 4.86%. The business had revenue of $255.92 million during the quarter, compared to analyst estimates of $251.72 million.

Manchester United Trading Up 1.7%

Shares of MANU stock opened at $17.65 on Friday. The company has a market capitalization of $3.04 billion, a P/E ratio of -252.11 and a beta of 0.54. The company has a current ratio of 0.31, a quick ratio of 0.29 and a debt-to-equity ratio of 2.58. The business’s 50 day moving average is $16.92 and its two-hundred day moving average is $16.51. Manchester United has a twelve month low of $12.05 and a twelve month high of $19.65.

Hedge Funds Weigh In On Manchester United

A number of large investors have recently bought and sold shares of MANU. Invesco Ltd. acquired a new position in shares of Manchester United during the fourth quarter worth about $6,665,000. Corient Private Wealth LLC acquired a new position in Manchester United during the 4th quarter worth approximately $257,000. Millennium Management LLC purchased a new position in shares of Manchester United during the 4th quarter worth approximately $335,000. Engineers Gate Manager LP raised its stake in shares of Manchester United by 53.7% during the 4th quarter. Engineers Gate Manager LP now owns 21,159 shares of the company’s stock worth $337,000 after buying an additional 7,391 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of Manchester United by 137.6% in the fourth quarter. Verition Fund Management LLC now owns 85,273 shares of the company’s stock valued at $1,358,000 after buying an additional 49,386 shares in the last quarter. Hedge funds and other institutional investors own 23.34% of the company’s stock.

Wall Street Analyst Weigh In

MANU has been the topic of several research reports. Wall Street Zen lowered 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 research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Manchester United presently has an average rating of “Sell”.

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.