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

Key Points

• Manchester United Ltd. shares have surpassed their 200-day moving average, reaching a high of $17.98 before closing at $17.74, indicating positive momentum in the stock price.
• Analysts from Wall Street Zen upgraded Manchester United's rating from "sell" to "hold", suggesting a more favorable outlook for the stock.
• In their latest earnings report, Manchester United reported a loss of ($0.04) EPS, significantly beating expectations, with revenues of $203.10 million compared to forecasts of $159.13 million.

Manchester United Ltd. (NYSE:MANU - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.30 and traded as high as $17.98. Manchester United shares last traded at $17.74, with a volume of 114,472 shares trading 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 Price Performance

The company has a 50 day moving average price of $17.05 and a 200 day moving average price of $15.30. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -36.20 and a beta of 0.71. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 2.54.

Manchester United (NYSE:MANU - Get Free Report) last released its earnings results on Friday, June 6th. The company reported ($0.04) 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 during the quarter, compared to analysts' expectations of $159.13 million. During the same period last year, the firm earned ($0.24) EPS. As a group, equities research analysts forecast that Manchester United Ltd. will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On Manchester United

A number of institutional investors have recently made changes to their positions in MANU. Infinitum Asset Management LLC acquired a new stake in shares of Manchester United during the fourth quarter worth $6,420,000. Cooperman Leon G grew its stake in shares of Manchester United by 9.1% during the first 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 during the period. Ariel Investments LLC grew its stake 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 worth $112,251,000 after purchasing an additional 205,807 shares during the period. Michelson Medical Research Foundation Inc. acquired a new stake in shares of Manchester United during the first quarter worth $2,618,000. Finally, Breach Inlet Capital Management LLC grew its stake in shares of Manchester United by 28.6% during the first quarter. Breach Inlet Capital Management LLC now owns 854,946 shares of the company's stock worth $11,191,000 after purchasing an additional 190,090 shares during the period. 23.34% of the stock is owned by institutional investors and hedge funds.

About Manchester United

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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