Manchester United (NYSE:MANU) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Manchester United plc (NYSE:MANU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.79 and traded as high as $16.89. Manchester United shares last traded at $16.59, with a volume of 167,233 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com upgraded Manchester United to a “sell” rating in a research note on Wednesday, December 4th. UBS Group initiated coverage on Manchester United in a research report on Tuesday, December 17th. They set a “buy” rating and a $23.00 price target on the stock.

Manchester United Trading Down 2.4 %

The business has a 50 day simple moving average of $17.20 and a 200-day simple moving average of $16.79. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.35 and a current ratio of 0.36. The stock has a market capitalization of $2.81 billion, a P/E ratio of -25.14 and a beta of 0.66.

Institutional Investors Weigh In On Manchester United

Several large investors have recently modified their holdings of MANU. Ariel Investments LLC lifted its holdings in shares of Manchester United by 50.9% in the second quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock valued at $129,234,000 after purchasing an additional 2,700,337 shares in the last quarter. Lancaster Investment Management purchased a new stake in shares of Manchester United in the third quarter valued at $9,094,000. Harvey Partners LLC lifted its holdings in shares of Manchester United by 156.9% in the third quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock valued at $11,973,000 after purchasing an additional 452,000 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Manchester United by 24.5% in the third quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock valued at $9,950,000 after purchasing an additional 121,211 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Manchester United in the second quarter valued at $686,000. 23.34% of the stock is owned by institutional investors.

Manchester United Company Profile

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.