Manchester United (NYSE:MANU) Raised to “Sell” at StockNews.com

Manchester United (NYSE:MANU) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Wednesday.

Manchester United Stock Up 0.3 %

Manchester United stock traded up $0.05 during mid-day trading on Wednesday, reaching $16.94. 177,274 shares of the company were exchanged, compared to its average volume of 704,632. The business has a fifty day moving average of $16.67 and a 200 day moving average of $16.69. 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 firm has a market cap of $2.87 billion, a P/E ratio of -25.67 and a beta of 0.68. Manchester United has a 12-month low of $13.50 and a 12-month high of $22.00.

Manchester United (NYSE:MANU) last issued its quarterly earnings data on Wednesday, September 11th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. Manchester United had a negative return on equity of 37.41% and a negative net margin of 13.36%. The firm had revenue of $179.43 million during the quarter, compared to analyst estimates of $180.82 million. Research analysts anticipate that Manchester United will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of Manchester United

Several hedge funds and other institutional investors have recently made changes to their positions in MANU. Ariel Investments LLC lifted its holdings 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 valued at $129,234,000 after purchasing an additional 2,700,337 shares during the last quarter. Lancaster Investment Management purchased a new position in Manchester United in the 3rd quarter worth $9,094,000. Harvey Partners LLC raised its stake in Manchester United by 156.9% in the 3rd quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock worth $11,973,000 after acquiring an additional 452,000 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in Manchester United by 15.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company’s stock worth $21,814,000 after acquiring an additional 185,271 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Manchester United by 24.5% in the 3rd quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock worth $9,950,000 after acquiring an additional 121,211 shares during the last quarter. 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.