Manchester United (NYSE:MANU) Sets New 1-Year High – Time to Buy?

Manchester United Ltd. (NYSE:MANU)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $24.31 and last traded at $24.2920, with a volume of 343279 shares trading hands. The stock had previously closed at $23.32.

Wall Street Analyst Weigh In

MANU has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Manchester United from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. Weiss Ratings raised Manchester United from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Manchester United Stock Up 3.9%

The company has a market capitalization of $4.18 billion, a PE ratio of -173.09 and a beta of 0.59. The company has a current ratio of 0.37, a quick ratio of 0.35 and a debt-to-equity ratio of 2.73. The business has a fifty day moving average of $22.48 and a 200 day moving average of $19.58.

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

Institutional Investors Weigh In On Manchester United

Several large investors have recently added to or reduced their stakes in MANU. Alpine Woods Capital Investors LLC lifted its holdings in Manchester United by 5.3% during the 1st quarter. Alpine Woods Capital Investors LLC now owns 13,450 shares of the company’s stock worth $226,000 after buying an additional 674 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Manchester United by 13.7% during the first quarter. Janus Henderson Group PLC now owns 645,790 shares of the company’s stock worth $10,862,000 after acquiring an additional 77,804 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Manchester United by 70.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,611 shares of the company’s stock worth $44,000 after acquiring an additional 1,076 shares during the period. Royal Bank of Canada raised its stake in shares of Manchester United by 20.4% in the first quarter. Royal Bank of Canada now owns 7,852 shares of the company’s stock valued at $131,000 after acquiring an additional 1,329 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Manchester United by 23.7% in the first quarter. Renaissance Technologies LLC now owns 268,400 shares of the company’s stock valued at $4,514,000 after purchasing an additional 51,500 shares during the period. 23.34% of the stock is 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.