Manchester United (NYSE:MANU) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Manchester United plc (NYSE:MANU) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.61 and traded as high as $17.10. Manchester United shares last traded at $17.01, with a volume of 336,732 shares traded.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft increased their price objective on Manchester United from $16.00 to $18.50 and gave the company a “hold” rating in a report on Wednesday, July 24th.

Manchester United Price Performance

The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -19.55 and a beta of 0.69. The stock’s 50 day moving average price is $16.46 and its two-hundred day moving average price is $16.61. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 3.53.

Manchester United (NYSE:MANU) last announced its quarterly earnings results on Wednesday, September 11th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. The company had revenue of $179.43 million for the quarter, compared to the consensus estimate of $180.82 million. Manchester United had a negative return on equity of 55.05% and a negative net margin of 17.28%. Equities research analysts forecast that Manchester United plc will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MANU. BNP Paribas Financial Markets grew its stake in shares of Manchester United by 912.0% during the 1st quarter. BNP Paribas Financial Markets now owns 2,277 shares of the company’s stock worth $32,000 after purchasing an additional 2,052 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in Manchester United during the third quarter worth $49,000. Emfo LLC acquired a new stake in Manchester United during the second quarter valued at $50,000. Dnca Finance purchased a new position in Manchester United in the second quarter valued at $53,000. Finally, Nkcfo LLC acquired a new position in shares of Manchester United in the second quarter worth about $113,000. 23.34% of the stock is owned by institutional investors and hedge funds.

Manchester United Company Profile

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.