Manchester United (NYSE:MANU) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Technical breakout: MANU crossed above its 200-day moving average of $16.54, trading as high as $17.84 and last at $17.5850 on volume of 214,128 shares.
• Negative analyst sentiment: Wall Street Zen downgraded the stock to a "strong sell" and Weiss Ratings reiterated a "sell," leaving Manchester United with an average sell rating from analysts.
• Weak fundamentals: The company missed quarterly EPS ($0.03 vs. $0.09 consensus), reports a negative net margin (-1.39%) and ROE (-4.85%), and carries a high debt-to-equity ratio (2.52) with a $3.03 billion market cap.

Manchester United Ltd. (NYSE:MANU - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.54 and traded as high as $17.84. Manchester United shares last traded at $17.5850, with a volume of 214,128 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MANU. Wall Street Zen cut Manchester United from a "hold" rating to a "strong sell" rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Manchester United in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Manchester United has an average rating of "Sell".

Manchester United Stock Performance

The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -251.18 and a beta of 0.58. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.32 and a quick ratio of 0.30. The firm has a 50 day moving average price of $17.20 and a 200-day moving average price of $16.54.

Manchester United (NYSE:MANU - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $255.92 million during the quarter, compared to analyst estimates of $251.72 million. Manchester United had a negative net margin of 1.39% and a negative return on equity of 4.85%. As a group, sell-side analysts expect that Manchester United Ltd. will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of Manchester United

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Manchester United in the second quarter valued at $29,000. Quarry LP acquired a new stake in Manchester United in the fourth quarter valued at $30,000. Garner Asset Management Corp acquired a new stake in Manchester United in the fourth quarter valued at $97,000. Quantbot Technologies LP raised its stake 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 in the last quarter. Finally, Saranac Partners Ltd acquired a new stake in Manchester United in the third quarter valued at $169,000. 23.34% of the stock is currently owned by institutional investors and hedge funds.

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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