Manchester United (NYSE:MANU) Sees Strong Trading Volume

Manchester United plc (NYSE:MANUGet Rating) saw unusually-high trading volume on Tuesday . Approximately 72,888 shares traded hands during mid-day trading, a decline of 78% from the previous session’s volume of 332,568 shares.The stock last traded at $14.66 and had previously closed at $13.03.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Manchester United in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock.

Manchester United Trading Up 25.8 %

The company has a current ratio of 0.48, a quick ratio of 0.47 and a debt-to-equity ratio of 4.16. The company’s fifty day simple moving average is $13.31 and its 200-day simple moving average is $12.63.

Manchester United (NYSE:MANUGet Rating) last issued its earnings results on Thursday, September 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Manchester United had a negative return on equity of 22.28% and a negative net margin of 19.22%. The business had revenue of $148.93 million for the quarter, compared to the consensus estimate of $187.50 million. As a group, equities research analysts forecast that Manchester United plc will post -0.44 earnings per share for the current fiscal year.

Institutional Trading of Manchester United

A number of institutional investors have recently modified their holdings of MANU. Citigroup Inc. boosted its holdings in shares of Manchester United by 4,255.3% in the 1st quarter. Citigroup Inc. now owns 3,310 shares of the company’s stock valued at $48,000 after buying an additional 3,234 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Manchester United by 1,267.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,511 shares of the company’s stock worth $86,000 after purchasing an additional 6,035 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Manchester United in the 2nd quarter worth approximately $90,000. Alterna Wealth Management Inc. acquired a new stake in Manchester United in the 3rd quarter worth approximately $133,000. Finally, Ridgewood Investments LLC boosted its stake in Manchester United by 10.2% in the 2nd quarter. Ridgewood Investments LLC now owns 13,744 shares of the company’s stock worth $153,000 after purchasing an additional 1,270 shares in the last quarter. 76.52% of the stock is currently owned by institutional investors.

Manchester United Company Profile

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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.

Further Reading

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