Manchester United (NYSE:MANU) Announces Earnings Results

Manchester United (NYSE:MANU) announced its earnings results on Wednesday, May 27th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.10, Zacks reports. The company had revenue of $250.96 million for the quarter, compared to analysts’ expectations of $220.94 million. Manchester United had a positive return on equity of 0.64% and a negative net margin of 2.67%.

Manchester United Trading Down 2.1%

Shares of Manchester United stock traded down $0.46 during trading hours on Monday, hitting $21.91. The company’s stock had a trading volume of 388,958 shares, compared to its average volume of 364,907. The company has a market capitalization of $3.78 billion, a PE ratio of -156.49 and a beta of 0.61. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.37 and a quick ratio of 0.35. The stock has a 50 day moving average of $19.83 and a 200 day moving average of $17.82. Manchester United has a 12 month low of $14.59 and a 12 month high of $24.22.

Institutional Investors Weigh In On Manchester United

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC acquired a new stake in shares of Manchester United in the fourth quarter valued at approximately $257,000. Invesco Ltd. acquired a new stake in Manchester United in the 4th quarter valued at about $6,665,000. Millennium Management LLC acquired a new stake in shares of Manchester United in the fourth quarter valued at approximately $335,000. Engineers Gate Manager LP lifted its holdings in Manchester United by 53.7% during the 4th quarter. Engineers Gate Manager LP now owns 21,159 shares of the company’s stock valued at $337,000 after purchasing an additional 7,391 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Manchester United by 137.6% during the 4th quarter. Verition Fund Management LLC now owns 85,273 shares of the company’s stock worth $1,358,000 after buying an additional 49,386 shares during the period. 23.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on MANU. Wall Street Zen upgraded Manchester United from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings upgraded shares of Manchester United from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Manchester United currently has an average rating of “Sell”.

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.