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

Key Points

• Manchester United's stock (NYSE:MANU) has surpassed its 200-day moving average, with current trading around $17.44, indicating positive momentum.
• The company reported a quarterly earnings per share (EPS) of ($0.04), outperforming analyst expectations, and generated revenues of $203.10 million.
• Wall Street Zen upgraded Manchester United's stock rating from "sell" to "hold", reflecting increased confidence among analysts.

Manchester United Ltd. (NYSE:MANU - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.39 and traded as high as $17.56. Manchester United shares last traded at $17.44, with a volume of 130,819 shares.

Analyst Ratings Changes

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

Manchester United Trading Down 0.2%

The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 2.54. The firm's 50-day moving average price is $17.64 and its 200 day moving average price is $15.39. The company has a market capitalization of $2.95 billion, a P/E ratio of -35.59 and a beta of 0.71.

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

Institutional Investors Weigh In On Manchester United

Several hedge funds and other institutional investors have recently made changes to their positions in MANU. Krilogy Financial LLC boosted its holdings in Manchester United by 233.3% during the first quarter. Krilogy Financial LLC now owns 40,000 shares of the company's stock worth $524,000 after purchasing an additional 28,000 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Manchester United during the fourth quarter worth about $783,000. Lancaster Investment Management boosted its holdings in Manchester United by 7.8% during the first quarter. Lancaster Investment Management now owns 880,351 shares of the company's stock worth $11,524,000 after purchasing an additional 64,000 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Manchester United by 105.5% during the first quarter. Bleakley Financial Group LLC now owns 49,313 shares of the company's stock worth $646,000 after purchasing an additional 25,321 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in Manchester United during the first quarter worth about $402,000. 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.

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