Manchester United (NYSE:MANU) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Manchester United plc (NYSE:MANU)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.74 and traded as high as $17.20. Manchester United shares last traded at $17.17, with a volume of 55,874 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MANU shares. StockNews.com raised Manchester United to a “sell” rating in a research note on Wednesday, December 4th. UBS Group began coverage on Manchester United in a research report on Tuesday, December 17th. They set a “buy” rating and a $23.00 price target on the stock.

Manchester United Stock Up 0.6 %

The firm has a market cap of $2.91 billion, a PE ratio of -26.01 and a beta of 0.68. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.35 and a current ratio of 0.36. The company’s 50-day simple moving average is $16.98 and its two-hundred day simple moving average is $16.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. purchased a new position in Manchester United during the 3rd quarter valued at $49,000. Nkcfo LLC purchased a new position in shares of Manchester United during the second quarter valued at about $113,000. Verition Fund Management LLC bought a new position in Manchester United in the third quarter worth about $209,000. PDT Partners LLC bought a new position in Manchester United in the third quarter worth about $274,000. Finally, XTX Topco Ltd bought a new stake in Manchester United during the 2nd quarter valued at approximately $364,000. Institutional investors own 23.34% of the company’s stock.

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.