Manchester United (NYSE:MANU) Stock Passes Above 200-Day Moving Average – What’s Next?

Manchester United plc (NYSE:MANU)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.51 and traded as high as $17.44. Manchester United shares last traded at $17.24, with a volume of 266,202 shares trading hands.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft increased their target price on shares of Manchester United from $16.00 to $18.50 and gave the company a “hold” rating in a report on Wednesday, July 24th.

Manchester United Trading Up 1.2 %

The company has a debt-to-equity ratio of 3.53, a current ratio of 0.36 and a quick ratio of 0.35. The company has a market capitalization of $2.92 billion, a P/E ratio of -19.82 and a beta of 0.69. The firm has a fifty day moving average price of $16.37 and a 200-day moving average price of $16.51.

Manchester United (NYSE:MANU) last announced its quarterly earnings data on Wednesday, September 11th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The firm had revenue of $179.43 million during the quarter, compared to the consensus estimate of $180.82 million. Manchester United had a negative return on equity of 55.05% and a negative net margin of 17.28%. On average, equities research analysts anticipate that Manchester United plc will post -0.74 earnings per share for the current year.

Institutional Trading of Manchester United

Several hedge funds have recently added to or reduced their stakes in the stock. Ariel Investments LLC increased its stake in shares of Manchester United by 50.9% during the 2nd quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock worth $129,234,000 after purchasing an additional 2,700,337 shares during the last quarter. Pinnacle Associates Ltd. increased its position in Manchester United by 15.9% in the second quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company’s stock worth $21,814,000 after buying an additional 185,271 shares during the last quarter. Lancaster Investment Management bought a new stake in shares of Manchester United in the third quarter valued at $9,094,000. Gabelli Funds LLC lifted its position in shares of Manchester United by 10.7% during the 2nd quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock valued at $6,091,000 after buying an additional 36,507 shares during the last quarter. Finally, Ursa Fund Management LLC grew its stake in shares of Manchester United by 577.1% during the 1st quarter. Ursa Fund Management LLC now owns 260,000 shares of the company’s stock worth $3,630,000 after acquiring an additional 221,600 shares during the period. Institutional investors own 23.34% of the company’s stock.

About Manchester United

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.