Manchester United (NYSE:MANU) Sets New 1-Year High – Here’s Why

Manchester United Ltd. (NYSE:MANU)’s share price reached a new 52-week high on Monday . The company traded as high as $20.12 and last traded at $19.83, with a volume of 200060 shares changing hands. The stock had previously closed at $19.23.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Manchester United from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Manchester United Stock Up 4.2%

The stock has a fifty day simple moving average of $17.47 and a two-hundred day simple moving average of $16.83. The firm has a market cap of $3.46 billion, a PE ratio of -286.33 and a beta of 0.59. The company has a current ratio of 0.32, a quick ratio of 0.30 and a debt-to-equity ratio of 2.52.

Manchester United (NYSE:MANU) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%.The firm had revenue of $255.92 million during the quarter, compared to analysts’ expectations of $251.72 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MANU. Cooperman Leon G boosted its stake in Manchester United by 0.6% during the third quarter. Cooperman Leon G now owns 2,857,877 shares of the company’s stock valued at $43,268,000 after buying an additional 18,140 shares during the period. Pinnacle Associates Ltd. grew its position in Manchester United by 30.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 1,404,151 shares of the company’s stock worth $22,354,000 after buying an additional 327,553 shares in the last quarter. Breach Inlet Capital Management LLC increased its stake in Manchester United by 3.5% in the 4th quarter. Breach Inlet Capital Management LLC now owns 1,223,216 shares of the company’s stock worth $19,474,000 after acquiring an additional 41,933 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Manchester United by 110.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,104,738 shares of the company’s stock worth $18,582,000 after acquiring an additional 580,887 shares during the last quarter. Finally, Harvey Partners LLC raised its holdings in shares of Manchester United by 15.8% in the 3rd quarter. Harvey Partners LLC now owns 1,102,500 shares of the company’s stock valued at $16,692,000 after acquiring an additional 150,802 shares in the last quarter. Institutional investors own 23.34% of the company’s stock.

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.