Manchester United (NYSE:MANU) Trading Up 11.7% – Here’s What Happened

Manchester United Ltd. (NYSE:MANU)’s share price was up 11.7% during mid-day trading on Thursday . The stock traded as high as $23.13 and last traded at $23.5850. Approximately 104,823 shares traded hands during trading, a decline of 70% from the average daily volume of 351,612 shares. The stock had previously closed at $21.11.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MANU. Wall Street Zen raised shares of Manchester United from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “sell (e+)” rating on shares of Manchester United in a report on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Manchester United currently has an average rating of “Sell”.

Manchester United Stock Performance

The company has a market cap of $4.10 billion, a P/E ratio of -169.15 and a beta of 0.61. The company has a quick ratio of 0.35, a current ratio of 0.37 and a debt-to-equity ratio of 2.73. The company’s 50-day moving average is $18.47 and its two-hundred day moving average is $17.22.

Manchester United (NYSE:MANU) last announced its earnings results on Wednesday, May 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.10. The business had revenue of $250.96 million during the quarter, compared to analyst estimates of $220.94 million. Manchester United had a negative net margin of 2.67% and a positive return on equity of 0.64%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Manchester United during the second quarter worth approximately $29,000. Quarry LP purchased a new position in shares of Manchester United in the fourth quarter worth $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Manchester United by 70.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,611 shares of the company’s stock worth $44,000 after buying an additional 1,076 shares during the period. Garner Asset Management Corp purchased a new stake in shares of Manchester United in the 4th quarter worth about $97,000. Finally, Quantbot Technologies LP lifted its stake in Manchester United by 105.3% during the 2nd quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock valued at $114,000 after acquiring an additional 3,273 shares during the period. 23.34% of the stock is owned by hedge funds and other institutional investors.

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.