Manchester United (NYSE:MANU) Upgraded to “Sell” at Wall Street Zen

Manchester United (NYSE:MANU) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Manchester United Trading Down 0.4%

NYSE MANU opened at $19.94 on Friday. The company has a fifty day simple moving average of $17.73 and a two-hundred day simple moving average of $16.92. The stock has a market cap of $3.44 billion, a P/E ratio of -284.87 and a beta of 0.59. Manchester United has a 12-month low of $13.22 and a 12-month high of $20.61. The company has a current ratio of 0.32, a quick ratio of 0.30 and a debt-to-equity ratio of 2.52.

Manchester United (NYSE:MANU) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The company had revenue of $255.92 million during the quarter, compared to analysts’ expectations of $251.72 million. Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MANU. Royal Bank of Canada increased its stake in shares of Manchester United by 65.0% in the first quarter. Royal Bank of Canada now owns 77,687 shares of the company’s stock worth $1,017,000 after acquiring an additional 30,604 shares during the period. Jane Street Group LLC increased its stake in shares of Manchester United by 156.3% in the first quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock worth $374,000 after acquiring an additional 79,290 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Manchester United by 10.8% in the second quarter. JPMorgan Chase & Co. now owns 207,731 shares of the company’s stock worth $3,700,000 after acquiring an additional 20,251 shares during the period. Quantbot Technologies LP increased its stake in shares of Manchester United by 105.3% in the second quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock worth $114,000 after acquiring an additional 3,273 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Manchester United by 48.9% in the second quarter. Marshall Wace LLP now owns 283,574 shares of the company’s stock worth $5,050,000 after acquiring an additional 93,111 shares during the period. Hedge funds and other institutional investors own 23.34% of the company’s stock.

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.