Manchester United (NYSE:MANU) Shares Pass Above 200 Day Moving Average – What’s Next?

Manchester United plc (NYSE:MANU)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.61 and traded as high as $17.10. Manchester United shares last traded at $17.01, with a volume of 336,732 shares trading hands.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Manchester United from $16.00 to $18.50 and gave the stock a “hold” rating in a research note on Wednesday, July 24th.

Manchester United Trading Up 0.3 %

The company’s fifty day moving average is $16.46 and its 200-day moving average is $16.61. 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 $2.88 billion, a PE ratio of -19.55 and a beta of 0.69.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Manchester United by 912.0% in the first quarter. BNP Paribas Financial Markets now owns 2,277 shares of the company’s stock valued at $32,000 after buying an additional 2,052 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Manchester United during the third quarter valued at about $49,000. Emfo LLC purchased a new position in shares of Manchester United in the 2nd quarter valued at approximately $50,000. Dnca Finance acquired a new stake in Manchester United in the 2nd quarter worth approximately $53,000. Finally, Nkcfo LLC purchased a new stake in Manchester United during the 2nd quarter worth approximately $113,000. Hedge funds and other institutional investors own 23.34% of the company’s stock.

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.