Manchester United (NYSE:MANU) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Manchester United Ltd. (NYSE:MANU - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.19 and traded as high as $17.65. Manchester United shares last traded at $16.98, with a volume of 423,812 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Manchester United from a "sell" rating to a "hold" rating in a research note on Saturday, May 31st.

Manchester United Stock Up 2.7%

The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -35.61 and a beta of 0.66. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.37 and a current ratio of 0.39. The business's 50 day moving average is $15.31 and its 200-day moving average is $15.19.

Manchester United (NYSE:MANU - Get Free Report) last issued its quarterly earnings results on Friday, June 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.29. Manchester United had a negative return on equity of 22.40% and a negative net margin of 10.09%. The company had revenue of $203.10 million for the quarter, compared to the consensus estimate of $159.13 million. During the same period last year, the business posted ($0.24) earnings per share. Equities analysts anticipate that Manchester United Ltd. will post -0.74 EPS for the current fiscal year.

Institutional Trading of Manchester United

A number of hedge funds have recently bought and sold shares of the stock. Infinitum Asset Management LLC bought a new position in shares of Manchester United during the 4th quarter worth about $6,420,000. Lancaster Investment Management lifted its position in shares of Manchester United by 45.2% in the 4th quarter. Lancaster Investment Management now owns 816,351 shares of the company's stock worth $14,164,000 after acquiring an additional 254,280 shares during the period. Breach Inlet Capital Management LLC lifted its position in shares of Manchester United by 58.0% in the 4th quarter. Breach Inlet Capital Management LLC now owns 664,856 shares of the company's stock worth $11,535,000 after acquiring an additional 243,977 shares during the period. Cooperman Leon G grew its holdings in shares of Manchester United by 9.1% during the 1st quarter. Cooperman Leon G now owns 2,839,737 shares of the company's stock worth $37,172,000 after purchasing an additional 238,032 shares in the last quarter. Finally, Ariel Investments LLC increased its position in shares of Manchester United by 2.5% during the first quarter. Ariel Investments LLC now owns 8,575,329 shares of the company's stock valued at $112,251,000 after purchasing an additional 205,807 shares during the period. 23.34% of the stock is owned by institutional investors.

Manchester United Company Profile

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand.