Manchester United (NYSE:MANU) Hits New 12-Month High After Earnings Beat

Manchester United Ltd. (NYSE:MANU)’s stock price hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $22.00 and last traded at $22.4290, with a volume of 90814 shares traded. The stock had previously closed at $19.72.

The company reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $3.95. Manchester United had a negative return on equity of 4.85% and a negative net margin of 1.39%.The company had revenue of $250.96 million for the quarter, compared to analysts’ expectations of $220.94 million.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Manchester United from a “strong sell” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Manchester United

Several institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Manchester United during the second quarter worth $29,000. Quarry LP purchased a new position in Manchester United in the fourth quarter worth $30,000. EverSource Wealth Advisors LLC grew its stake in Manchester United by 70.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,611 shares of the company’s stock valued at $44,000 after purchasing an additional 1,076 shares during the period. Garner Asset Management Corp bought a new position in Manchester United in the 4th quarter valued at $97,000. Finally, Quantbot Technologies LP increased its position in shares of 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 during the last quarter. 23.34% of the stock is owned by institutional investors.

Manchester United Trading Up 13.1%

The stock has a market capitalization of $3.84 billion, a PE ratio of -320.60 and a beta of 0.59. The company has a current ratio of 0.32, a quick ratio of 0.30 and a debt-to-equity ratio of 2.52. The firm has a 50-day moving average price of $17.88 and a 200-day moving average price of $16.99.

Manchester United Company Profile

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.