Manchester United (NYSE:MANU) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Manchester United plc (NYSE:MANU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Manchester United from $16.00 to $18.50 and gave the stock a “hold” rating in a research note on Wednesday, July 24th.

Manchester United Stock Performance

The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 3.53. The stock has a fifty day moving average price of $16.49 and a two-hundred day moving average price of $16.62. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -19.25 and a beta of 0.69.

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

Institutional Trading of Manchester United

A number of hedge funds have recently made changes to their positions in the company. Ariel Investments LLC raised its stake in shares of Manchester United by 50.9% in the 2nd quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock valued at $129,234,000 after purchasing an additional 2,700,337 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Manchester United by 15.9% in the second quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company’s stock valued at $21,814,000 after acquiring an additional 185,271 shares during the period. Harvey Partners LLC grew its holdings in shares of Manchester United by 156.9% during the third quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock valued at $11,973,000 after purchasing an additional 452,000 shares during the last quarter. Janus Henderson Group PLC boosted its position in Manchester United by 24.5% during the 3rd quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock valued at $9,950,000 after purchasing an additional 121,211 shares during the period. Finally, Lancaster Investment Management acquired a new position in shares of Manchester United during the third quarter valued at $9,094,000. Hedge funds and other 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.