Manchester United (NYSE:MANU) Stock Price Up 3.9% After Strong Earnings

Manchester United Ltd. (NYSE:MANUGet Free Report)’s stock price shot up 3.9% on Thursday following a stronger than expected earnings report. The company traded as high as $21.57 and last traded at $21.28. 48,910 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 340,374 shares. The stock had previously closed at $20.49.

The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.18. Manchester United had a positive return on equity of 0.64% and a negative net margin of 2.67%.The company had revenue of $208.66 million for the quarter, compared to the consensus estimate of $192.23 million.

Trending Headlines about Manchester United

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Analyst Upgrades and Downgrades

MANU has been the topic of a number of recent analyst reports. Wall Street Zen raised Manchester United from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Manchester United in a research note on Friday, September 11th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

View Our Latest Stock Report on MANU

Hedge Funds Weigh In On Manchester United

A number of large investors have recently bought and sold shares of MANU. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 1,076 shares during the last quarter. Ancora Advisors LLC purchased a new stake in Manchester United in the second quarter worth about $115,000. Royal Bank of Canada grew its holdings in Manchester United by 20.4% during the 1st quarter. Royal Bank of Canada now owns 7,852 shares of the company’s stock worth $131,000 after acquiring an additional 1,329 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Manchester United during the 2nd quarter valued at about $203,000. Finally, Alpine Woods Capital Investors LLC raised its stake in Manchester United by 5.3% in the first quarter. Alpine Woods Capital Investors LLC now owns 13,450 shares of the company’s stock worth $226,000 after buying an additional 674 shares in the last quarter. Hedge funds and other institutional investors own 23.34% of the company’s stock.

Manchester United Stock Up 3.5%

The stock has a market capitalization of $3.66 billion, a PE ratio of -151.06 and a beta of 0.58. The business has a 50 day moving average of $22.02 and a two-hundred day moving average of $20.40. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.35 and a current ratio of 0.37.

Manchester United Company Profile

(Get Free Report)

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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