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

Key Points

• Manchester United shares reached a new 52-week high, trading as high as $24.31 and closing around $24.29, up 3.9% from the prior close. The stock’s market capitalization is approximately $4.18 billion.
• The latest quarterly results exceeded expectations, with earnings of $0.04 per share versus consensus estimates of a $0.06 loss and revenue of $250.96 million versus estimates of $220.94 million. However, the company reported a negative net margin and carries elevated leverage, including a debt-to-equity ratio of 2.73.
• Analyst sentiment remains cautious: MarketBeat lists an average rating of “Sell,” despite recent upgrades from “Sell” to “Hold” and a weaker “Sell” rating. Institutional investors own 23.34% of the company’s shares.

Manchester United Ltd. (NYSE:MANU - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $24.31 and last traded at $24.2920, with a volume of 343279 shares. The stock had previously closed at $23.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MANU. Wall Street Zen upgraded shares of Manchester United from a "sell" rating to a "hold" rating in a research report on Sunday, May 31st. Weiss Ratings upgraded shares of Manchester United from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Manchester United currently has an average rating of "Sell".

Manchester United Stock Up 3.9%

The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.35 and a current ratio of 0.37. The business has a 50 day simple moving average of $22.48 and a 200-day simple moving average of $19.58. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -173.09 and a beta of 0.59.

Manchester United (NYSE:MANU - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.10. Manchester United had a negative net margin of 2.67% and a positive return on equity of 0.64%. The firm had revenue of $250.96 million during the quarter, compared to analyst estimates of $220.94 million.

Institutional Trading of Manchester United

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Manchester United in the 2nd quarter valued at $29,000. Quarry LP acquired a new stake in shares of Manchester United during the 4th quarter worth about $30,000. EverSource Wealth Advisors LLC raised its holdings in Manchester United by 70.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,611 shares of the company's stock valued at $44,000 after buying an additional 1,076 shares during the period. Garner Asset Management Corp purchased a new stake in Manchester United in the 4th quarter valued at about $97,000. Finally, Quantbot Technologies LP lifted its position in Manchester United by 105.3% in the second quarter. Quantbot Technologies LP now owns 6,380 shares of the company's stock valued at $114,000 after buying an additional 3,273 shares during the last quarter. Hedge funds and other institutional investors own 23.34% of the company's stock.

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.

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