Manchester United (NYSE:MANU) Stock Rating Upgraded by Wall Street Zen

Manchester United (NYSE:MANU) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Manchester United Price Performance

Shares of MANU stock opened at $21.01 on Friday. Manchester United has a 52-week low of $13.80 and a 52-week high of $22.94. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.30 and a current ratio of 0.37. The firm has a market capitalization of $3.62 billion, a P/E ratio of -150.03 and a beta of 0.59. The stock has a 50 day moving average price of $18.16 and a 200 day moving average price of $17.09.

Manchester United (NYSE:MANU) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. The firm had revenue of $250.96 million during the quarter, compared to analyst estimates of $220.94 million. Manchester United had a positive return on equity of 0.64% and a negative net margin of 2.67%.

Institutional Investors Weigh In On Manchester United

A number of institutional investors and hedge funds have recently bought and sold shares of MANU. Royal Bank of Canada raised its position in Manchester United by 65.0% during the 1st quarter. Royal Bank of Canada now owns 77,687 shares of the company’s stock valued at $1,017,000 after purchasing an additional 30,604 shares in the last quarter. Jane Street Group LLC raised its position in Manchester United by 156.3% during the 1st quarter. Jane Street Group LLC now owns 28,558 shares of the company’s stock valued at $374,000 after purchasing an additional 79,290 shares in the last quarter. JPMorgan Chase & Co. raised its position in Manchester United by 10.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 207,731 shares of the company’s stock valued at $3,700,000 after purchasing an additional 20,251 shares in the last quarter. Quantbot Technologies LP raised its position in Manchester United by 105.3% during the 2nd quarter. Quantbot Technologies LP now owns 6,380 shares of the company’s stock valued at $114,000 after purchasing an additional 3,273 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Manchester United by 48.9% during the 2nd quarter. Marshall Wace LLP now owns 283,574 shares of the company’s stock valued at $5,050,000 after purchasing an additional 93,111 shares in the last quarter. 23.34% of the stock is owned by institutional investors.

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.