Manchester United (NYSE:MANU) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Manchester United shares crossed above their 200-day moving average of $20.79, reaching $21.17 before closing near $21.12, up 1.4% in the session.
• Despite the technical move, analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (D-)” rating, and MarketBeat reports an overall “Sell” consensus.
• The company exceeded quarterly expectations, reporting adjusted EPS of negative $0.22 versus estimates of negative $0.40 and revenue of $208.66 million versus $192.23 million expected; institutional investors own 23.34% of the stock.

Manchester United Ltd. (NYSE:MANU - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $20.79 and traded as high as $21.17. Manchester United shares last traded at $21.1160, with a volume of 324,395 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Manchester United in a research note on Friday, September 11th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of "Sell".

Manchester United Trading Up 1.4%

The company has a market cap of $3.64 billion, a PE ratio of -63.99 and a beta of 0.65. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 3.84. The stock has a 50 day moving average price of $21.43 and a 200 day moving average price of $20.79.

Manchester United (NYSE:MANU - Get Free Report) last posted its quarterly earnings data on Wednesday, September 23rd. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.18. Manchester United had a negative net margin of 6.36% and a negative return on equity of 12.22%. The business had revenue of $208.66 million for the quarter, compared to analyst estimates of $192.23 million.

Hedge Funds Weigh In On Manchester United

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Breach Inlet Capital Management LLC grew its position in Manchester United by 3.5% in the 4th quarter. Breach Inlet Capital Management LLC now owns 1,223,216 shares of the company's stock worth $19,474,000 after purchasing an additional 41,933 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Manchester United by 110.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,104,738 shares of the company's stock valued at $18,582,000 after buying an additional 580,887 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Manchester United by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 645,790 shares of the company's stock valued at $10,862,000 after buying an additional 77,804 shares during the period. Gabelli Funds LLC boosted its stake in shares of Manchester United by 26.2% in the 1st quarter. Gabelli Funds LLC now owns 619,318 shares of the company's stock worth $10,417,000 after buying an additional 128,655 shares during the last quarter. Finally, CI Investments Inc. boosted its stake in shares of Manchester United by 5.7% in the 1st quarter. CI Investments Inc. now owns 420,282 shares of the company's stock worth $7,069,000 after buying an additional 22,554 shares during the last quarter. Institutional investors own 23.34% of the company's stock.

Manchester United Company Profile

Manchester United plc owns and operates Manchester United Football Club, one of the world's best-known professional soccer organizations. The club fields men's, women's and academy teams and competes in English football competitions, with its men's team playing home matches at Old Trafford in Manchester, England.

The company's business activities include matchday operations, broadcasting and media rights, commercial partnerships, sponsorships, licensing, merchandising and retail. It generates global engagement through live events, digital content, the club's media channels and the sale of official team apparel and other branded products.

Founded in 1878 as Newton Heath, the club adopted the Manchester United name in 1902.

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