Manchester United (NYSE:MANU) Hits New 1-Year Low – Here’s What Happened

Manchester United plc (NYSE:MANU)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $13.05 and last traded at $13.15, with a volume of 28157 shares traded. The stock had previously closed at $13.43.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group started coverage on shares of Manchester United in a report on Tuesday, December 17th. They set a “buy” rating and a $23.00 target price for the company. StockNews.com upgraded Manchester United to a “sell” rating in a research report on Tuesday, January 21st.

Manchester United Stock Performance

The company has a market capitalization of $2.22 billion, a PE ratio of -12.87 and a beta of 0.66. The stock’s fifty day simple moving average is $14.76 and its 200-day simple moving average is $16.04. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.35 and a current ratio of 0.41.

Manchester United (NYSE:MANU) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $254.62 million for the quarter, compared to the consensus estimate of $248.15 million. Manchester United had a negative net margin of 21.46% and a negative return on equity of 44.76%. As a group, equities analysts predict that Manchester United plc will post -0.74 earnings per share for the current year.

Hedge Funds Weigh In On Manchester United

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in Manchester United by 55.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,131 shares of the company’s stock valued at $37,000 after buying an additional 758 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Manchester United by 129.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,109 shares of the company’s stock worth $37,000 after acquiring an additional 1,188 shares during the last quarter. Blue Trust Inc. grew its holdings in Manchester United by 127.7% in the fourth quarter. Blue Trust Inc. now owns 3,358 shares of the company’s stock valued at $58,000 after purchasing an additional 1,883 shares during the period. Miracle Mile Advisors LLC increased its position in Manchester United by 15.8% during the fourth quarter. Miracle Mile Advisors LLC now owns 16,900 shares of the company’s stock worth $293,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Vident Advisory LLC raised its stake in Manchester United by 27.1% during the fourth quarter. Vident Advisory LLC now owns 13,535 shares of the company’s stock worth $235,000 after purchasing an additional 2,884 shares during the period. 23.34% of the stock is currently owned by institutional investors and hedge funds.

About Manchester United

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.