Manchester United (NYSE:MANU) Sets New 52-Week High – Here’s Why

Shares of Manchester United Ltd. (NYSE:MANU) hit a new 52-week high during trading on Monday . The company traded as high as $18.43 and last traded at $18.46, with a volume of 164503 shares trading hands. The stock had previously closed at $17.37.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Manchester United from a “sell” rating to a “hold” rating in a research report on Saturday, May 31st.

Manchester United Stock Up 5.3%

The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 2.54. The firm’s 50-day moving average price is $14.71 and its 200 day moving average price is $15.12. The firm has a market cap of $3.10 billion, a P/E ratio of -37.52 and a beta of 0.59.

Manchester United (NYSE:MANU) last posted its earnings results on Friday, June 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.29. Manchester United had a negative net margin of 10.09% and a negative return on equity of 22.40%. The firm had revenue of $203.10 million during the quarter, compared to analyst estimates of $159.13 million. During the same period in the previous year, the business posted ($0.24) EPS. As a group, research analysts expect that Manchester United Ltd. will post -0.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position in shares of Manchester United by 156.3% during the 1st quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock worth $374,000 after buying an additional 79,290 shares in the last quarter. Breach Inlet Capital Management LLC increased its stake in shares of Manchester United by 28.6% during the first quarter. Breach Inlet Capital Management LLC now owns 854,946 shares of the company’s stock valued at $11,191,000 after acquiring an additional 190,090 shares during the period. Ariel Investments LLC raised its holdings in Manchester United by 2.5% during the first quarter. Ariel Investments LLC now owns 8,575,329 shares of the company’s stock worth $112,251,000 after purchasing an additional 205,807 shares in the last quarter. Cooperman Leon G raised its holdings in Manchester United by 9.1% during the first quarter. Cooperman Leon G now owns 2,839,737 shares of the company’s stock worth $37,172,000 after purchasing an additional 238,032 shares in the last quarter. Finally, PDT Partners LLC lifted its position in Manchester United by 401.6% in the first quarter. PDT Partners LLC now owns 117,601 shares of the company’s stock worth $1,539,000 after purchasing an additional 94,155 shares during the period. Institutional investors and hedge funds 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.