Manchester United (NYSE:MANU) Sets New 52-Week High on Strong Earnings

Manchester United Ltd. (NYSE:MANU)’s share price hit a new 52-week high on Wednesday following a better than expected earnings announcement. The stock traded as high as $22.00 and last traded at $22.4290, with a volume of 90814 shares changing hands. The stock had previously closed at $19.72.

The company reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $3.95. The business had revenue of $250.96 million for the quarter, compared to analyst estimates of $220.94 million. Manchester United had a negative net margin of 1.39% and a negative return on equity of 4.85%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Manchester United from a “strong sell” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of Manchester United

Hedge funds and other institutional investors have recently bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Manchester United by 1.8% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 55,495 shares of the company’s stock valued at $883,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Manchester United by 70.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,611 shares of the company’s stock worth $44,000 after acquiring an additional 1,076 shares in the last quarter. Royal Bank of Canada increased its position in shares of Manchester United by 20.4% during the first quarter. Royal Bank of Canada now owns 7,852 shares of the company’s stock worth $131,000 after acquiring an additional 1,329 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Manchester United by 14.9% in the 4th quarter. Deutsche Bank AG now owns 10,916 shares of the company’s stock worth $174,000 after acquiring an additional 1,419 shares during the last quarter. Finally, Savant Capital LLC lifted its position in Manchester United by 13.1% in the 3rd quarter. Savant Capital LLC now owns 12,357 shares of the company’s stock valued at $187,000 after acquiring an additional 1,427 shares in the last quarter. Institutional investors own 23.34% of the company’s stock.

Manchester United Stock Performance

The firm has a market cap of $3.84 billion, a P/E ratio of -320.60 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. The company’s 50-day moving average is $17.88 and its two-hundred day moving average is $16.99.

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.