Manchester United (NYSE:MANU) Upgraded at StockNews.com

StockNews.com upgraded shares of Manchester United (NYSE:MANU) to a sell rating in a research report report published on Wednesday morning.

Manchester United Stock Up 3.7 %

MANU stock opened at $17.38 on Wednesday. Manchester United has a 1-year low of $13.50 and a 1-year high of $22.00. The business has a fifty day moving average price of $16.71 and a 200-day moving average price of $16.69. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.36 and a quick ratio of 0.35. The stock has a market capitalization of $2.94 billion, a P/E ratio of -26.33 and a beta of 0.68.

Manchester United (NYSE:MANU) last posted its quarterly earnings results on Wednesday, September 11th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. Manchester United had a negative return on equity of 37.41% and a negative net margin of 13.36%. The firm had revenue of $179.43 million during the quarter, compared to analysts’ expectations of $180.82 million. Equities analysts forecast that Manchester United will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ariel Investments LLC raised its stake in shares of Manchester United by 50.9% in the second quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock worth $129,234,000 after purchasing an additional 2,700,337 shares during the last quarter. Gabelli Funds LLC increased its position in Manchester United by 10.7% during the second quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock valued at $6,091,000 after acquiring an additional 36,507 shares during the last quarter. Lancaster Investment Management purchased a new stake in Manchester United during the third quarter valued at $9,094,000. Harvey Partners LLC increased its position in 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 acquiring an additional 452,000 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Manchester United during the second quarter valued at $686,000. Hedge funds and other institutional investors 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.