Manchester United (NYSE:MANU) Issues Earnings Results

Manchester United (NYSE:MANU) released its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06), FiscalAI reports. The firm had revenue of $256.37 million for the quarter, compared to the consensus estimate of $251.72 million. Manchester United had a negative net margin of 6.14% and a negative return on equity of 10.21%.

Manchester United Stock Performance

MANU opened at $17.32 on Thursday. The company has a 50 day simple moving average of $16.88 and a two-hundred day simple moving average of $16.50. 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 firm has a market cap of $2.99 billion, a P/E ratio of -55.87 and a beta of 0.54. Manchester United has a 1-year low of $12.05 and a 1-year high of $19.65.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Manchester United by 65.0% in the 1st 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 in the last quarter. Jane Street Group LLC boosted its stake in shares of Manchester United by 156.3% in the first quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock worth $374,000 after acquiring an additional 79,290 shares during the period. JPMorgan Chase & Co. grew its position 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 purchasing an additional 20,251 shares in the last quarter. Quantbot Technologies LP raised its stake in Manchester United by 105.3% during the 2nd quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock valued at $114,000 after purchasing an additional 3,273 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Manchester United by 48.9% in the 2nd quarter. Marshall Wace LLP now owns 283,574 shares of the company’s stock worth $5,050,000 after purchasing an additional 93,111 shares in the last quarter. Hedge funds and other institutional investors own 23.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MANU. Weiss Ratings reissued a “sell (e+)” rating on shares of Manchester United in a report on Monday, December 22nd. Wall Street Zen cut 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, Based on data from MarketBeat.com, Manchester United currently has a consensus rating of “Sell”.

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.