Manchester United plc (NYSE:MANU - Get Free Report)'s share price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $13.81, but opened at $15.35. Manchester United shares last traded at $15.69, with a volume of 413,572 shares trading hands.
The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.29. Manchester United had a negative net margin of 21.46% and a negative return on equity of 44.76%. The business had revenue of $203.10 million for the quarter, compared to analyst estimates of $159.13 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised shares of Manchester United from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.
Get Our Latest Report on Manchester United
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its position in Manchester United by 156.3% during the 1st quarter. Jane Street Group LLC now owns 28,558 shares of the company's stock worth $374,000 after buying an additional 79,290 shares in the last quarter. Breach Inlet Capital Management LLC lifted its position in Manchester United by 28.6% during the 1st quarter. Breach Inlet Capital Management LLC now owns 854,946 shares of the company's stock worth $11,191,000 after buying an additional 190,090 shares in the last quarter. Ariel Investments LLC lifted its position in Manchester United by 2.5% during the 1st quarter. Ariel Investments LLC now owns 8,575,329 shares of the company's stock worth $112,251,000 after buying an additional 205,807 shares in the last quarter. Cooperman Leon G lifted its position in 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 buying an additional 238,032 shares in the last quarter. Finally, PDT Partners LLC increased its position in Manchester United by 401.6% in the first quarter. PDT Partners LLC now owns 117,601 shares of the company's stock worth $1,539,000 after purchasing an additional 94,155 shares during the period. Institutional investors and hedge funds own 23.34% of the company's stock.
Manchester United Trading Up 3.7%
The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.35 and a current ratio of 0.41. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of -16.68 and a beta of 0.59. The business's 50-day simple moving average is $13.94 and its 200-day simple moving average is $15.11.
Manchester United Company Profile
(
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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.
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