Manchester United (NYSE:MANU) Shares Gap Down - Should You Sell?

Key Points

• Manchester United shares fell 2.0%, opening at $19.35 versus the prior close of $20.51, and last traded near $19.92.
• Analyst sentiment remains negative: the stock has a consensus “Sell” rating, despite one firm upgrading it to “Hold.”
• The company beat quarterly expectations, reporting an adjusted loss of $0.22 per share versus estimates of $0.40 and revenue of $208.66 million versus $192.23 million expected; institutional investors own 23.34% of the stock.

Shares of Manchester United Ltd. (NYSE:MANU - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $20.51, but opened at $19.35. Manchester United shares last traded at $19.9230, with a volume of 67,329 shares trading hands.

Wall Street Analysts Forecast Growth

MANU has been the topic of several recent analyst reports. Wall Street Zen upgraded Manchester United from a "sell" rating to a "hold" rating in a report on Sunday, May 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Manchester United in a report on Friday, September 11th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Manchester United Stock Down 2.0%

The company has a current ratio of 0.37, a quick ratio of 0.35 and a debt-to-equity ratio of 2.73. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -143.31 and a beta of 0.58. The firm's 50 day moving average price is $22.06 and its two-hundred day moving average price is $20.38.

Manchester United (NYSE:MANU - Get Free Report) last posted its earnings results on Wednesday, September 23rd. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.18. The business had revenue of $208.66 million for the quarter, compared to analyst estimates of $192.23 million. Manchester United had a positive return on equity of 0.64% and a negative net margin of 2.67%.

Hedge Funds Weigh In On Manchester United

A number of hedge funds have recently added to or reduced their stakes in MANU. Squarepoint Ops LLC acquired a new position in shares of Manchester United in the 2nd quarter valued at approximately $203,000. Ancora Advisors LLC acquired a new stake in shares of Manchester United in the 2nd quarter valued at approximately $115,000. Alpine Woods Capital Investors LLC lifted its stake in Manchester United by 5.3% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 13,450 shares of the company's stock valued at $226,000 after purchasing an additional 674 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Manchester United by 13.7% during the first quarter. Janus Henderson Group PLC now owns 645,790 shares of the company's stock worth $10,862,000 after buying an additional 77,804 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Manchester United by 70.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,611 shares of the company's stock worth $44,000 after purchasing an additional 1,076 shares in the last quarter. Institutional investors own 23.34% of the company's stock.

About Manchester United

Manchester United plc NYSE: MANU is a professional sports and entertainment company centered on Manchester United Football Club, one of England's most prominent soccer clubs. The club operates men's and women's first teams, a youth academy, and related football development programs. Its teams compete primarily in English and European competitions, with home matches played at Old Trafford in Manchester, England.

The company generates revenue through matchday activities, global broadcasting and media rights, commercial partnerships and sponsorships, retail merchandise, licensing, hospitality, and other club-related services.

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