Manchester United (NYSE:MANU) Posts Earnings Results, Misses Estimates By $0.06 EPS

Manchester United (NYSE:MANU) released its quarterly earnings results on Wednesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06), FiscalAI reports. Manchester United had a negative return on equity of 10.21% and a negative net margin of 6.14%.

Manchester United Trading Down 3.1%

Shares of MANU traded down $0.56 during mid-day trading on Wednesday, reaching $17.18. The company’s stock had a trading volume of 173,581 shares, compared to its average volume of 319,541. Manchester United has a 52 week low of $12.05 and a 52 week high of $19.65. The stock has a market cap of $2.96 billion, a PE ratio of -54.85 and a beta of 0.54. The company’s fifty day moving average price is $16.84 and its two-hundred day moving average price is $16.50. The company has a current ratio of 0.31, a quick ratio of 0.29 and a debt-to-equity ratio of 2.58.

Institutional Trading of Manchester United

Several institutional investors have recently added to or reduced their stakes in MANU. Invesco Ltd. bought a new position in shares of Manchester United during the fourth quarter valued at about $6,665,000. Bank of America Corp DE grew its position in Manchester United by 83.8% during the 3rd quarter. Bank of America Corp DE now owns 243,444 shares of the company’s stock worth $3,686,000 after acquiring an additional 111,011 shares during the last quarter. Marshall Wace LLP increased its stake in Manchester United by 48.9% in the 2nd quarter. Marshall Wace LLP now owns 283,574 shares of the company’s stock worth $5,050,000 after purchasing an additional 93,111 shares during the period. Rathbones Group PLC bought a new stake in Manchester United in the fourth quarter valued at approximately $1,316,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Manchester United during the third quarter valued at approximately $1,227,000. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MANU. Weiss Ratings reiterated a “sell (e+)” rating on shares of Manchester United in a research report on Monday, December 22nd. Wall Street Zen lowered shares of Manchester United from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Manchester United Company Profile

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.