Manchester United (NYSE:MANU) Sees Strong Trading Volume

Manchester United plc (NYSE:MANUGet Rating) saw unusually-high trading volume on Tuesday . Approximately 72,888 shares were traded during trading, a decline of 78% from the previous session’s volume of 332,568 shares.The stock last traded at $14.66 and had previously closed at $13.03.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Manchester United in a report on Wednesday, October 12th. They set a “sell” rating for the company.

Manchester United Price Performance

The company has a current ratio of 0.48, a quick ratio of 0.47 and a debt-to-equity ratio of 4.16. The firm’s fifty day moving average price is $13.31 and its two-hundred day moving average price is $12.63.

Manchester United (NYSE:MANUGet Rating) last announced its earnings results on Thursday, September 22nd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). Manchester United had a negative net margin of 19.22% and a negative return on equity of 22.28%. The business had revenue of $148.93 million for the quarter, compared to analysts’ expectations of $187.50 million. As a group, research analysts predict that Manchester United plc will post -0.44 EPS for the current fiscal year.

Institutional Trading of Manchester United

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP increased its holdings in Manchester United by 40.7% during the third quarter. River & Mercantile Asset Management LLP now owns 52,780 shares of the company’s stock valued at $700,000 after buying an additional 15,280 shares during the last quarter. State Street Corp increased its holdings in Manchester United by 3.8% during the third quarter. State Street Corp now owns 26,868 shares of the company’s stock valued at $357,000 after buying an additional 993 shares during the last quarter. Trexquant Investment LP purchased a new stake in Manchester United during the third quarter valued at approximately $181,000. Quinn Opportunity Partners LLC bought a new position in shares of Manchester United in the third quarter worth approximately $4,659,000. Finally, Federated Hermes Inc. boosted its position in shares of Manchester United by 16.7% in the third quarter. Federated Hermes Inc. now owns 175,000 shares of the company’s stock worth $2,322,000 after purchasing an additional 25,000 shares during the period. 76.52% of the stock is owned by hedge funds and other institutional investors.

Manchester United Company Profile

(Get Rating)

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.

Further Reading

Receive News & Ratings for Manchester United Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manchester United and related companies with MarketBeat.com's FREE daily email newsletter.