Manchester United (NYSE:MANU) Shares Cross Above Two Hundred Day Moving Average – Time to 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 trading hands.

Analyst Ratings Changes

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

Manchester United Price Performance

The company has a debt-to-equity ratio of 3.53, a current ratio of 0.36 and a quick ratio of 0.35. The company has a market cap of $2.84 billion, a P/E ratio of -19.25 and a beta of 0.69. The company has a fifty day simple moving average of $16.49 and a 200-day simple moving average of $16.62.

Manchester United (NYSE:MANU) last released its quarterly earnings results on Wednesday, September 11th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. Manchester United had a negative net margin of 17.28% and a negative return on equity of 55.05%. The business had revenue of $179.43 million for the quarter, compared to analyst estimates of $180.82 million. On average, sell-side analysts predict that Manchester United plc will post -0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in Manchester United by 24.5% in the third quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock worth $9,950,000 after acquiring an additional 121,211 shares in the last quarter. Harvey Partners LLC lifted 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 worth $11,973,000 after buying an additional 452,000 shares during the last quarter. Twin Securities Inc. boosted its holdings in Manchester United by 7.0% in the 3rd quarter. Twin Securities Inc. now owns 36,266 shares of the company’s stock valued at $587,000 after purchasing an additional 2,358 shares during the period. PDT Partners LLC acquired a new stake in Manchester United during the third quarter worth about $274,000. Finally, Verition Fund Management LLC bought a new stake in shares of Manchester United in the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds own 23.34% of the company’s stock.

About Manchester United

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.