Manchester United (NYSE:MANU) Stock Crosses Above 200-Day Moving Average – Time to Sell?

by · The Markets Daily

Manchester United plc (NYSE:MANU – Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.79 and traded as high as $16.89. Manchester United shares last traded at $16.59, with a volume of 167,233 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Manchester United in a report on Tuesday, December 17th. They set a “buy” rating and a $23.00 price objective for the company. StockNews.com upgraded Manchester United to a “sell” rating in a research note on Wednesday, December 4th.

Check Out Our Latest Analysis on Manchester United

Manchester United Price Performance

The stock has a market capitalization of $2.74 billion, a P/E ratio of -24.48 and a beta of 0.66. The company has a 50 day moving average of $17.20 and a 200-day moving average of $16.79. The company has a quick ratio of 0.35, a current ratio of 0.36 and a debt-to-equity ratio of 3.25.

Hedge Funds Weigh In On Manchester United

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ariel Investments LLC increased its holdings 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 worth $129,234,000 after acquiring an additional 2,700,337 shares during the period. Harvey Partners LLC increased its stake in shares of Manchester United by 156.9% in 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 period. Janus Henderson Group PLC raised its holdings in shares of Manchester United by 24.5% during the third quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock valued at $9,950,000 after buying an additional 121,211 shares during the last quarter. Lancaster Investment Management acquired a new position in shares of Manchester United during the third quarter worth approximately $9,094,000. Finally, Gabelli Funds LLC grew its holdings in Manchester United by 10.7% in the 2nd quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock worth $6,091,000 after buying an additional 36,507 shares in the last quarter. 23.34% of the stock is currently owned by institutional investors and hedge funds.

Manchester United Company Profile

(Get Free Report)

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.

See Also