Manchester United (NYSE:MANU) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Manchester United Ltd. (NYSE:MANU)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.53 and traded as high as $23.57. Manchester United shares last traded at $23.5530, with a volume of 300,674 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on MANU. Weiss Ratings reissued a “sell (e+)” rating on shares of Manchester United in a research report on Monday, June 1st. Wall Street Zen raised Manchester United from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Manchester United Stock Up 3.1%

The firm has a 50-day simple moving average of $19.19 and a 200 day simple moving average of $17.53. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.37 and a quick ratio of 0.35. The company has a market capitalization of $4.06 billion, a PE ratio of -168.22 and a beta of 0.61.

Manchester United (NYSE:MANU) last announced its 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. Manchester United had a positive return on equity of 0.64% and a negative net margin of 2.67%.The business had revenue of $250.96 million for the quarter, compared to analyst estimates of $220.94 million.

Institutional Trading of Manchester United

A number of hedge funds and other institutional investors have recently modified their holdings of MANU. Raymond James Financial Inc. purchased a new stake in shares of Manchester United during the second quarter worth about $29,000. Quarry LP purchased a new stake in shares of Manchester United during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC increased its position in shares of Manchester United by 70.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,611 shares of the company’s stock worth $44,000 after acquiring an additional 1,076 shares during the last quarter. Garner Asset Management Corp purchased a new stake in shares of Manchester United during the fourth quarter worth about $97,000. Finally, Quantbot Technologies LP increased its position in shares of Manchester United by 105.3% during 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 last quarter. 23.34% of the stock is owned by hedge funds and other 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.