Manchester United (NYSE:MANU) Reaches New 12-Month High - Here's Why

Key Points

• Manchester United (NYSE:MANU) hit a new 52-week high, trading as high as $19.65 on Friday and last at $19.2650 on volume of 218,700 shares.
• Despite the rally, the stock has a Sell consensus (Wall Street Zen downgraded it to "strong sell") and the company posted an earnings miss (EPS $0.03 vs. $0.09 expected) with a negative net margin (-1.39%), negative ROE, low liquidity (quick ratio 0.30) and high debt-to-equity (2.52).
• Several hedge funds increased their stakes in the third quarter and institutional ownership is about 23.34%, signaling continued investor interest despite mixed fundamentals.

Manchester United Ltd. (NYSE:MANU - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $19.65 and last traded at $19.2650, with a volume of 218700 shares traded. The stock had previously closed at $19.13.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Manchester United from a "sell" rating to a "strong sell" rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

Manchester United Price Performance

The stock has a market cap of $3.39 billion, a PE ratio of -281.39 and a beta of 0.59. The business's 50-day simple moving average is $17.29 and its 200-day simple moving average is $16.80. The company has a quick ratio of 0.30, a current ratio of 0.32 and a debt-to-equity ratio of 2.52.

Manchester United (NYSE:MANU - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.06). Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%.The firm had revenue of $255.92 million for the quarter, compared to analysts' expectations of $251.72 million.

Hedge Funds Weigh In On Manchester United

Several hedge funds have recently made changes to their positions in MANU. Harvey Partners LLC lifted its stake in Manchester United by 15.8% in the third quarter. Harvey Partners LLC now owns 1,102,500 shares of the company's stock worth $16,692,000 after acquiring an additional 150,802 shares during the period. Tudor Investment Corp ET AL bought a new position in Manchester United in the 3rd quarter worth $1,110,000. Gabelli Funds LLC lifted its position in shares of Manchester United by 3.2% in the 3rd quarter. Gabelli Funds LLC now owns 406,763 shares of the company's stock worth $6,158,000 after purchasing an additional 12,518 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of Manchester United by 31.8% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 54,495 shares of the company's stock valued at $825,000 after purchasing an additional 13,150 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of Manchester United by 38.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 103,450 shares of the company's stock valued at $1,566,000 after purchasing an additional 28,466 shares in the last quarter. 23.34% of the stock is owned by hedge funds and other institutional investors.

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.

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