Manchester United (NYSE:MANU) Shares Break Above Two Hundred Day Moving Average – What’s Next?

Manchester United Ltd. (NYSE:MANU)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $20.56 and traded as high as $20.69. Manchester United shares last traded at $20.0770, with a volume of 385,741 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Manchester United in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Manchester United currently has an average rating of “Sell”.

Manchester United Trading Down 2.6%

The company has a market cap of $3.46 billion, a P/E ratio of -60.84 and a beta of 0.65. The firm’s 50 day moving average is $21.78 and its two-hundred day moving average is $20.56. The company has a quick ratio of 0.31, a current ratio of 0.33 and a debt-to-equity ratio of 3.84.

Manchester United (NYSE:MANU) last announced its earnings results on Wednesday, September 23rd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.18. The business had revenue of $208.66 million during the quarter, compared to analyst estimates of $192.23 million. Manchester United had a negative return on equity of 12.22% and a negative net margin of 6.36%.

Hedge Funds Weigh In On Manchester United

Hedge funds have recently made changes to their positions in the stock. Breach Inlet Capital Management LLC boosted its holdings in Manchester United by 3.5% in the fourth quarter. Breach Inlet Capital Management LLC now owns 1,223,216 shares of the company’s stock valued at $19,474,000 after acquiring an additional 41,933 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in Manchester United by 110.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,104,738 shares of the company’s stock worth $18,582,000 after purchasing an additional 580,887 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Manchester United by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 645,790 shares of the company’s stock worth $10,862,000 after purchasing an additional 77,804 shares during the period. Gabelli Funds LLC lifted its position in shares of Manchester United by 26.2% in the 1st quarter. Gabelli Funds LLC now owns 619,318 shares of the company’s stock worth $10,417,000 after purchasing an additional 128,655 shares during the period. Finally, CI Investments Inc. lifted its position in shares of Manchester United by 5.7% in the 1st quarter. CI Investments Inc. now owns 420,282 shares of the company’s stock worth $7,069,000 after purchasing an additional 22,554 shares during the period. 23.34% of the stock is currently owned by institutional investors.

About Manchester United

Manchester United plc owns and operates Manchester United Football Club, one of the world’s best-known professional soccer organizations. The club fields men’s, women’s and academy teams and competes in English football competitions, with its men’s team playing home matches at Old Trafford in Manchester, England.

The company’s business activities include matchday operations, broadcasting and media rights, commercial partnerships, sponsorships, licensing, merchandising and retail. It generates global engagement through live events, digital content, the club’s media channels and the sale of official team apparel and other branded products.

Founded in 1878 as Newton Heath, the club adopted the Manchester United name in 1902.